Compute the present value of a $1,000 investment made 6 months, 7 years, and 15 years from now at 6 percent interest.

(Remember the exponent for the 6 month calculation is expressed as 0.5, representing one-half of one year.)

Instructions: Enter your responses to the nearest penny (2 decimal places). Do not round intermediate calculations.

Present value of investment made in 6 months at 6 percent = $

Present values of investment made in 7 years at 6 percent = $

Present value of investment made in 15 years at 6 percent = $

The present value of the investment is (Click to select) smaller larger the same the further into the future the investment is made because (Click to select) the principal has more time to grow the payout is larger the principal has less time to grow the payout is smaller .

rev: 06_19_2019_QC_CS-171217, 02_09_2021_QC_CS-252124