=+EX 14-14 Present value of amounts due Chapter 14 Long-Term Liabilities: Bonds and Notes 649 Assume the
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=+EX 14-14 Present value of amounts due Chapter 14 Long-Term Liabilities: Bonds and Notes 649 Assume the same data as in Appendix 1 Exercise 14-16, except that the current interest rate is 14%.
Will the present value of your winnings using an interest rate of 14% be onehalf the present value of your winnings using an interest rate of 7%? Why or why not?
Appendix 1
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