Question
Your uncle offers you a choice of $103,000 in 10 years or $35,000 today. Use Appendix B as an approximate answer, but calculate your final
Your uncle offers you a choice of $103,000 in 10 years or $35,000 today. Use Appendix B as an approximate answer, but calculate your final answer using the formula and financial calculator methods.
a-1. If money is discounted at 11 percent, what is the present value of the $103,000? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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$103,000 after 10 years | |
$35,000 today |
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