What is the present value of the following future amounts?

a.

$600

to be received

8

years from now discounted back to the present at

9

percent

b.

$400

to be received

6

years from now discounted back to the present at

8

percent

c.

$1,000

to be received

13

years from now discounted back to the present at

5

percent

d.

$1,100

to be received

4

years from now discounted back to the present at

18

percent

Question content area bottom

Part 1

a. What is the present value of

$600

to be received

8

years from now discounted back to the present at

9

percent?

(Round to the nearest cent.)

Part 2

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.)

Part 3

c. What is the present value of

$1,000

to be received

13

years from now discounted back to the present at

5

percent?

(Round to the nearest cent.)