Present value conceptAnswer each of the following questions.

a.What single investment made today, earning 15% annual interest, will be worth $5,900 at the end of 6 years?

b.What is the present value of $5,900 to be received at the end of 6 years if the discount rate is 15%?

c.What is the most you would pay today for a promise to repay you $5,900 at the end of 6 years if your opportunity cost is 15%?

d. Compare, contrast, and discuss your findings in part a through c.