Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the present value of $15,000 received: a. Twenty eight years from today when the interest rate is 8% per year? b. Fourteen years

image text in transcribed
What is the present value of $15,000 received: a. Twenty eight years from today when the interest rate is 8% per year? b. Fourteen years from today when the interest rate is 8% per year? C. Seven years from today when the interest rate is 8% per year? a. Twenty eight years from today when the interest rate is 8% per year? The present value of $15,000 received 28 years from today when the interest rate is 8% per year is $ 1738 12 (Round to the nearest dollar) b. Fourteen years from today when the interest rate is 8% per year? The present value of $15,000 received 14 years from today when the interest rate is 8% per year is $ 5,107 (Round to the nearest dollar) c. Seven years from today when the interest rate is 8% per year? The present value of $15.000 received 7 years from today when the interest rate is 8% per year is $8771.93 (Round to the nearest dollar)

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

Emotions In Finance Booms Busts And Uncertainty

Authors: Jocelyn Pixley

2nd Edition

1107633370, 978-1107633377

More Books

Students also viewed these Finance questions

Question

What are the underpinnings of the traditional planning models?

Answered: 1 week ago

Question

Explain how cultural differences affect business communication.

Answered: 1 week ago

Question

List and explain the goals of business communication.

Answered: 1 week ago