Final answer:
The student's question relates to the calculation of the present value of an annuity or a series of payments, which takes into account a certain interest rate. This falls under high school level mathematics and involves using the present value annuity formula for various financial scenarios like loans or bonds.
Step-by-step explanation:
The question involves calculating the present value (PV) of an annuity or a series of payments that a customer should pay. Calculations of present value allow an individual to determine the current worth of payments expected in the future, taking into account a certain interest rate or discount rate. In this case, we want to calculate the present value of an annuity with the provided formula. However, without a financial calculator or specific software, it is not possible to compute the exact value here.
To answer the related example, consider a student loan for Mackenzie who has taken out a $160,000 loan with an interest rate of 6.8% over 15 years. Her yearly payments depend on the amortization formula, which is not provided in the question. However, the general approach would involve using the formula for the present value of an annuity. Similarly, bonds and their present values can be computed using provided formulas and interest rates, considering the market interest rates and given bond cashflows.
For the example of the two-year bond issued at $3,000 with an 8% interest rate, we would calculate the present discounted value (PDV) of the future payments using the provided 8% discount rate. If the interest rates increase to 11%, we would likewise adjust the discount rate to reflect the true present value under the new conditions. The PDV is calculated for each payment received and then summed up to find the total present value of the bond.