Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The rate of earnings is 6% and the cash to be received in 4 years is $30,579. The present value amount, using the following

image text in transcribed

The rate of earnings is 6% and the cash to be received in 4 years is $30,579. The present value amount, using the following partial table of present value of $1 at compound interest is (round to two decimal points) Year 6% 10% 12% 1 0.943 0.909) 0.893. 2 0.890 0.826 0.797 3 0.840 0.751 0.712 4 0.792 0.683 0.636 a. $19,448.241 b. $20,885.46 c. $24,21857 d. $25,686.36

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Earl K. Stice, James D. Stice

18th edition

538479736, 978-1111534783, 1111534780, 978-0538479738

More Books

Students also viewed these Accounting questions