Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the present value of $ 1 7 , 7 0 0 that is received 1 7 years from now? The annual interest rate

What is the present value of $17,700 that is received 17 years from now? The annual interest rate is 2%.
Enter your response below rounded to 2 decimal places.

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

Personal Finance

Authors: E. Thomas Garman, Raymond Forgue

9th Edition

0618938737, 978-0618938735

More Books

Students also viewed these Finance questions