Assume that starting next year, you will receive payments of $ 413 every year for 4...
Assume that starting next year, you will receive payments of $ 413 every year for 4 years. The discount rate it 6 %. What is the present value of these payments?
Enter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. That means, for example, that if your answer is $127.5678, you must enter 127.57
Homework Answers
Present value is calculated using the PV function as follows:
=PV(rate,nper,pmt)
=PV(6%,4,413)
=1431.09
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