At the end of each month, for two years, $5,000 will be withdrawn from a savings account paying 1.8% interest
compounded monthly. Calculate the present value of the decreasing annuity. Complete parts a) and b) below.
(Simplify your answers. Use integers or decimals for any numbers in the expression.)

b) Evaluate the formula to calculate the present value of the decreasing annuity.
The present value of the decreasing annuity is $
(Do not round until the final answer. Then round to the nearest cent as needed.)