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a) What is the present value of $ 13,000 to be received 11 years from today, assuming an annual discount rate of 7 percent? Round
a) What is the present value of $ 13,000 to be received 11 years from today, assuming an annual discount rate of 7 percent? Round your answer to 2 decimal places; for example 2345.25.
b) Suppose you make a one-time $ 4,000 investment into an account that yields a 10% annual return. If you keep the account for 6 years, what should be the account balance? Round your answer to 2 decimal places; for example 2345.25.
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