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I need help figuring out this problem - I am not sure what I am doing wrong. Your aunt offers you a choice of $21,300
I need help figuring out this problem - I am not sure what I am doing wrong.
Your aunt offers you a choice of $21,300 in 30 years or $560 today. UseAppendix Bas an approximate answer, but calculate your final answer using the formula and financial calculator methods.
a-1.If money is discounted at 13 percent, what is the present value of the $21,300?(Do not round intermediate calculations. Round your final answer to 2 decimal places.)
13 @ 30 = .026
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