Answered step by step
Verified Expert Solution
Question
1 Approved Answer
What is the present value of the following? Use Appendix B as an approximate answer, but calculate your final answer using the formula and
What is the present value of the following? Use Appendix B as an approximate answer, but calculate your final answer using the formula and financial calculator methods. a. $8,000 in 10 years at 6 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Present value $ 4,467.16 b. $16,000 in 5 years at 12 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Present value $ 9,078.83 c. $25,000 in 15 years at 8 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Present value
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