Present Value Factor

You won a lottery which pays $10,000 per year for 10 years (at the end of each year). Assuming adiscount rate of 8% calculate the present value of your expected winnings. Enter and/or calculate the cells highlighted in yellow:
a.
Year Annual PaymentPresent Value Factor (PVF) Present Value (PV)
0 $- Your final answer appears here automatically
1 $10,000 
2
3
4
5
6
7
8
9
10
Discount Rate:
b. Use the PV function of Excel to calculate the present value. Confirm that this is the same as your above calculation. (Note, the output of Excel's PV function is negative so you'll need to put a negative sign in front of it.)
PV from Excel's PV function: