Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
QUESTION
There is a problem in the book: What is the present value of: a . $9,000 in 7 years at 8 percent? b . $20,000 in 5 years at 10 percent?
There is a problem in the book:
What is the present value of:
a. $9,000 in 7 years at 8 percent?
b. $20,000 in 5 years at 10 percent?
c. $10,000 in 25 years at 6 percent?
d. $1,000 in 50 years at 16 percent?
9-2. Solution:Appendix B
PV = FV × PVIF
a. $ 9,000 × .583 = $5,247
b. $20,000 × .621 = $12,420
c. $10,000 × .233 = $2,330
d. $ 1,000 × .001 = $1
How are they getting that middle decimal number? How is that being calculated?
