Question
Present and future values of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA $1 1 1.03000 0.97087 1.0000
Present and future values of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA $1 1 1.03000 0.97087 1.0000 0.97087 FVAD $1 PVAD $1 1.00000 234 1.06090 0.94260 2.0300 1.91347 1.0300 2.0909 1.97087 1.09273 0.91514 3.0909 2.82861 3.1836 2.91347 1.12551 0.88849 4.1836 3.71710 4.3091 3.82861 5 1.15927 0.86261 5.3091 6 8 1.19405 0.83748 7 1.22987 0.81309 1.26677 0.78941 9 1.30477 0.76642 10 1.34392 0.74409 11 1.38423 0.72242 12 1.42576 0.70138 13 1.46853 0.68095 14 1.51259 0.66112 15 1.55797 0.64186 6.4684 7.6625 6.23028 4.57971 5.4684 4.71710 5.41719 6.6625 5.57971 7.8923 6.41719 8.8923 7.01969 9.1591 7.23028 10.1591 7.78611 10.4639 8.01969 8.53020 9.25262 11.4639 12.8078 14.1920 9.95400 14.6178 10.25262 15.6178 10.63496 17.0863 11.29607 18.5989 11.93794 11.8078 8.78611 13.1920 9.53020 16 1.60471 0.62317 20.1569 12.56110 16.0863 10.95400 17.5989 11.63496 19.1569 12.29607 20.7616 12.93794 Bill wants to give Maria a $570,000 gift in 5 years. If money is worth 6% compounded semiannually, what is Maria's gift worth today?
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
15th edition
1259404781, 007802563X, 978-1259404788, 9780078025631, 978-0077522940
