\fPresent Value of $1 Due in n Periods* EXHIBIT 26-3 Number of Discount Rate Present Value of $1 Payable Periods in n Periods (n) 1% 11/2% 5% 6% 8% 10% 12% 15% 20% DO YOU A WN- 990 .985 .952 943 926 .909 893 .870 .833 980 .971 .907 890 .857 .826 .797 .756 .694 971 .956 .864 840 .794 751 .712 .658 .579 961 .942 823 792 735 .683 .636 .572 .482 951 928 784 747 681 621 567 497 .402 942 915 746 705 .630 564 .507 432 335 933 .901 .711 665 .583 513 452 .376 279 923 .888 .677 627 .540 .467 404 .327 .233 9 914 .875 .645 .592 .500 .424 .361 .284 . 194 10 905 862 614 558 463 386 .322 247 . 162 20 820 742 .377 312 .215 . 149 .104 061 026 24 788 700 310 247 . 158 . 102 066 035 013 36 .699 .585 . 173 . 123 .063 .032 .017 007 .00 1 "The present value of $1 is computed by the formula p = 1/(1 + ijn, where p is the present value of $1, / is the discount rate, and n is the number of periods until the future cash flow will occur. Amounts in this table have been rounded to three decimal places and are shown for a limited number of periods and discount rates. Many calculators are programmed to use this formula and can compute present values when the future amount is enteredPresent Value of $1 to Be Received Periodically for n Periods EXHIBIT 26-4 Number of Discount Rate Present Value of a $1 Annuity Periods Receivable Each Period for n (n) 1% 11/2% 5% 6% 8% 10% 12% 15% 20% Periods 0.990 0.985 0.952 0.943 0.926 0.909 0.893 0.870 0.833 1.970 1.956 1.859 1.833 1.783 1.736 1.690 1.626 1.528 2.941 2.912 2.723 2.673 2.577 2.487 2.402 2.283 2. 106 3.902 3.854 3.546 3.465 3.312 3.170 3.037 2.855 2.589 4.853 4.783 4.329 4.212 3.993 3.791 3.605 3.352 2.991 5.795 5.697 5.076 4.917 4.623 4.355 4.111 3.784 3.326 6.728 6.598 5.786 5.582 5.206 4.868 4.564 4.160 3.605 7.652 7.486 6.463 6.210 5.747 5.335 4.968 4.487 3.837 8.566 8.361 7.108 6.802 6.247 5.759 5.328 4.772 4.031 10 9.471 9.222 7.722 7.360 6.710 6.145 5.650 5.019 4. 192 20 18.046 17. 169 12.462 11.470 9.818 8.514 7.469 6.259 4.870 24 21.243 20.030 13.799 12.550 10.529 8.985 7.784 6.434 4.937 36 30. 108 27.661 16.547 14.621 11.717 9.677 8.192 6.623 4.993