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# 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?