Assuming an interest rate of $8\%,$ the present value of $$70,000$ to be received $9$ years from now would be closest to Present Value of $$1$

Periods

$5$

$6$

$7$

$8$

$9$

$10$

Present Value of Annuity of $$1$

Periods

$5$

$6$

$7$

$8$

$9$

$10$

$8\%$

$0\mathrm{.}681$

$0\mathrm{.}630$

$0\mathrm{.}583$

$0\mathrm{.}540$

$0\mathrm{.}500$

$0\mathrm{.}463$

$10\%$

$0\mathrm{.}621$

$0\mathrm{.}564$

$0\mathrm{.}513$

$0\mathrm{.}467$

$0\mathrm{.}424$

$0\mathrm{.}386$

$8\%$

$3\mathrm{.}993$

$4\mathrm{.}623$

$5\mathrm{.}206$

$5\mathrm{.}747$

$6\mathrm{.}247$

$6\mathrm{.}710$

$12\%$

$0\mathrm{.}567$

$0\mathrm{.}507$

$0\mathrm{.}452$

$0\mathrm{.}404$

$0\mathrm{.}361$

$0\mathrm{.}322$

$10\%$

$3\mathrm{.}791$

$4\mathrm{.}355$

$4\mathrm{.}868$

$5\mathrm{.}335$

$5\mathrm{.}759$

$6\mathrm{.}145$

$\backslash$table$[[12\%,14\%$