What is the present value of a 3-year annuity of 100 if the discount rate is 6?

PVannuity=C*[(1-(1+i)^-n)/i]

PVannuity=100*[(1-(1+.06)^-3)/.06]

PVannuity=$267.30

To answer using a financial calculator enter the following:

n = 3

I/Y = 6

FV = 0

PMT = -100

Compute PV