just landed a great part-time internship with a local firm that will pay you a stipend of $24,000 at the end of each year during your college career. You plan to keep this internship for 5 years. What is the present value of this internship at a discount rate of 3% (this calculates the real value of your stipend with regards to the effects of inflation of 3% for 5 years)? Show your answer using a table that shows the Present Value (PV) of each year’s stipend. SUM all the present values for the five-year period to find the total value of your stipend. Also, calculate the present value of the five-year stipend by utilizing Excel’s NPV function.

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