Calculate the present value of $9,000 received four years from today if your investments pay (Do...
Calculate the present value of $9,000 received four years from today if your investments pay (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))
Homework Answers
| Assume that the interest rate is 8%. | ||||||
| Calculate the present value of 9000 received 4 years from today. | ||||||
| Present Value = Future value/ ((1+r)^t) | ||||||
| where r is the interest rate that is 8% and t is the time period that is 4. | ||||||
| Future value = 4000 | ||||||
| Present value = 4000/((1.08)^4) | ||||||
| The present value is $2940.12. | ||||||
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