To solve, apply the formula of present value of annuity.
PV is the present value
PMT is the periodic payment
r is the rate
n is the number of deposits/withdrawals in a year, and
t is the number of years.
Since $1530 per quarter is to be withdrawn for 25 years, then PMT=1530, n=4 and t=25. And the given rate is s r=6%.
Plugging them to the formula yields:
`PV = (1530(1-1.015^(-100)))/0.015`
`PV = 78985.79661`
Rounding off to nearest hundredths, it becomes 78985.80.
Therefore, the present value is $78985.80 .