Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use these present value tables to answer the question that follow. Below is a table for the present value of $1 at Compound interest 6%

image text in transcribed
Use these present value tables to answer the question that follow. Below is a table for the present value of $1 at Compound interest 6% 0.636 Year Year 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 5 0.747 0.621 0.567 Below is a table for the present value of an annuity of 81 at compound interest 6% 10% 1296 1 0.943 0.909 0.893 2 1.833 1.736 1.690 3 2.673 2.487 2.402 4 3.465 3.170 3.037 4.212 3.791 3.605 Using the tables above, what would be the present value of $59,000 (rounded to the nearest dollar) to be received three years from today, assuming an earnings rate o 6%7 O. 574,010 Ob. $59.000 Oc5157,707 Od, s

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_2

Step: 3

blur-text-image_3

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

International Financial Reporting Standards ImplementationA Global Experience

Authors: Mohammad Nurunnabi

1st Edition

1801174415, 9781801174411

More Books

Students also viewed these Accounting questions