$7,000.00 in 5 years at an annual discount rate of 6% =

1 7,000,000.00 6,580,000.00
2 6,580,000.00 6,185,200.00
3 6,185,200.00 5,814,088.00
4 5,814,088.00 5,465,242.72
5 5,465,242.72 5,137,328.16

Another useful post showing exactly how you came up with your numbers...

dtcawa, could you please copy that problem exactly as it is stated?