Problem 9-2 (Algo) Present value [LO9-3]

What is the present value of the following? Use Appendix B as an approximate answer, but calculate your final answer using the formula and financial calculator methods.

1. $8,400 in 12 years at 11 percent?

Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.

1. $17,200 in 6 years at 9 percent?

Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.

1. $26,800 in 18 years at 10 percent?

Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.

Appendix B

Present value of $1, PV_IF

PV = FV[1 / (1 + i)ⁿ]

PeriodPercent1%2%3%4%5%6%7%8%9%10%11%12%13%14%15%16%17%18%19%20%25%30%35%40%50%10.9900.9800.9710.9620.9520.9430.9350.9260.9170.9090.9010.8930.8850.8770.8700.8620.8550.8470.8400.8330.8000.7690.7410.7140.66720.9800.9610.9430.9250.9070.8900.8730.8570.8420.8260.8120.7970.7830.7690.7560.7430.7310.7180.7060.6940.6400.5920.5490.5100.44430.9710.9420.9150.8890.8640.8400.8160.7940.7720.7510.7310.7120.6930.6750.6580.6410.6240.6090.5930.5790.5120.4550.4060.3640.29640.9610.9240.8880.8550.8230.7920.7630.7350.7080.6830.6590.6360.6130.5920.5720.5520.5340.5150.4990.4820.4100.3500.3010.2600.19850.9510.9060.8630.8220.7840.7470.7130.6810.6500.6210.5930.5670.5430.5190.4970.4760.4560.4370.4190.4020.3280.2690.2230.1860.13260.9420.8880.8370.7900.7460.7050.6660.6300.5960.5640.5350.5070.4800.4560.4320.4100.3900.3700.3520.3350.2620.2070.1650.1330.08870.9330.8710.8130.7600.7110.6650.6230.5830.5470.5130.4820.4520.4250.4000.3760.3540.3330.3140.2960.2790.2100.1590.1220.0950.05980.9230.8530.7890.7310.6770.6270.5820.5400.5020.4670.4340.4040.3760.3510.3270.3050.2850.2660.2490.2330.1680.1230.0910.0680.03990.9140.8370.7660.7030.6450.5920.5440.5000.4600.4240.3910.3610.3330.3080.2840.2630.2430.2250.2090.1940.1340.0940.0670.0480.026100.9050.8200.7440.6760.6140.5580.5080.4630.4220.3860.3520.3220.2950.2700.2470.2270.2080.1910.1760.1620.1070.0730.0500.0350.017110.8960.8040.7220.6500.5850.5270.4750.4290.3880.3500.3170.2870.2610.2370.2150.1950.1780.1620.1480.1350.0860.0560.0370.0250.012120.8870.7880.7010.6250.5570.4970.4440.3970.3560.3190.2860.2570.2310.2080.1870.1680.1520.1370.1240.1120.0690.0430.0270.0180.008130.8790.7730.6810.6010.5300.4690.4150.3680.3260.2900.2580.2290.2040.1820.1630.1450.1300.1160.1040.0930.0550.0330.0200.0130.005140.8700.7580.6610.5770.5050.4420.3880.3400.2990.2630.2320.2050.1810.1600.1410.1250.1110.0990.0880.0780.0440.0250.0150.0090.003150.8610.7430.6420.5550.4810.4170.3620.3150.2750.2390.2090.1830.1600.1400.1230.1080.0950.0840.0740.0650.0350.0200.0110.0060.002160.8530.7280.6230.5340.4580.3940.3390.2920.2520.2180.1880.1630.1410.1230.1070.0930.0810.0710.0620.0540.0280.0150.0080.0050.002170.8440.7140.6050.5130.4360.3710.3170.2700.2310.1980.1700.1460.1250.1080.0930.0800.0690.0600.0520.0450.0230.0120.0060.0030.001180.8360.7000.5870.4940.4160.3500.2960.2500.2120.1800.1530.1300.1110.0950.0810.0690.0590.0510.0440.0380.0180.0090.0050.0020.001190.8280.6860.5700.4750.3960.3310.2770.2320.1940.1640.1380.1160.0980.0830.0700.0600.0510.0430.0370.0310.0140.0070.0030.0020200.8200.6730.5540.4560.3770.3120.2580.2150.1780.1490.1240.1040.0870.0730.0610.0510.0430.0370.0310.0260.0120.0050.0020.0010250.7800.6100.4780.3750.2950.2330.1840.1460.1160.0920.0740.0590.0470.0380.0300.0240.0200.0160.0130.0100.0040.0010.00100300.7420.5520.4120.3080.2310.1740.1310.0990.0750.0570.0440.0330.0260.0200.0150.0120.0090.0070.0050.0040.0010000400.6720.4530.3070.2080.1420.0970.0670.0460.0320.0220.0150.0110.0080.0050.0040.0030.0020.0010.0010.00100000500.6080.3720.2280.1410.0870.0540.0340.0210.0130.0090.0050.0030.0020.0010.0010.001000000000