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In three years, when he is discharged from the Air Force, Steve wants to buy a $13,000 power boat. Click here to view and Exhibit

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In three years, when he is discharged from the Air Force, Steve wants to buy a $13,000 power boat. Click here to view and Exhibit 148-2, to determine the appropriate discount factor(s) using tables. Required: What lump-sum amount must Steve invest now to have the $13,000 at the end of three years if he can invest money at: (Round your final answer to the nearest whole dollar amount.) XHIBIT 14B-1 Prosent Value of $1:(1+r)n1

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