Answered step by step
Verified Expert Solution
Question
1 Approved Answer
What is the present value of $14,000 recieved: a. Twenty eight years from today when the interst rate is 9% per year ? b. Fourteen
What is the present value of $14,000 recieved:
a. Twenty eight years from today when the interst rate is 9% per year ?
b. Fourteen years from today when the interest rate is 5% per year ?
c. Seven years today when the interest rate is 3% per year ?
a. Twenty eight years from today when the interest rate is 9% per year ?
The present value of $14,000 recieved 28 years ago from today when the interest rate is 9% per year is $___ ( Round to the nearest dollar.)
b. Fourteen years from today when the interest rate is 5% per year ?
The present value of $14,000 recieved 14 years ago from today when the interest rate is 5% per year is$ ___ (Round to the nearest dollar )
C. Seven years from today when the interest rate is 3% per year?
The present value of $14,000 recieved 7 years from today when the interest rate is 3% per year is $___ (Round to the nearest dollar )
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started