Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribed

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. $8,200 in 7 years at 8 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Present value b. $16,900 in 3 years at 6 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Present value c. $26,600 in 9 years at 9 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

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_2

Step: 3

blur-text-image_3

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

Derivatives Markets

Authors: Rober L. Macdonald

4th edition

321543084, 978-0321543080

More Books

Students also viewed these Finance questions

Question

explain the links between the income statement and cash fl ow

Answered: 1 week ago

Question

Do you usually feel alert when you wake up in the morning? Yes No

Answered: 1 week ago