Question

What is the present value of: Use Appendix B as an approximate answer, but calculate your final answer using the formula and financial calculator methods.

a. $8,200 in 12 years at 8 percent?

b. $18,500 in 7 years at 11 percent?

c. $28,000 in 16 years at 9 percent?

Answer 1

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

What is the present value of:

PV= FV/(1+i)^n

a. $8,200 in 12 years at 8 percent

PV= 8,200/(1.08)^12= 3,256.33

b. $18,500 in 7 years at 11 percent?

PV= 8,910.68

c. $28,000 in 16 years at 9 percent?

PV= 7,052.35