What is the present value of the following future amounts?

a. $700 to be received 10 years from now discounted back to the present at 11 percent.

b. $400 to be received 6 years from now discounted back to the present at 8 percent.

c. $1,150 to be received 13 years from now discounted back to the present at 5 percent.

d. $1,050 to be received 6 years from now discounted back to the present at 17 percent.

a. What is the present value of $700 to be received 10 years from now discounted back to the present at 11 percent?

$_____. (Round to the nearest cent.)

b. What is the present value of $400 to be received 6 years from now discounted back to the present at 8 percent?

$_____. (Round to the nearest cent.)

c. What is the present value of $1,150 to be received 13 years from now discounted back to the present at 5

percent?

$_____. (Round to the nearest cent.)

d. What is the present value of $1,050 to be received 6 years from now discounted back to the present at 17 percent?

$_____. (Round to the nearest cent.)