Compute the present value of $48,318 at 7% for 9 years. Compute the present value of $886,073 at 13% for 23 years. Compute present value of $550,164 at 21% for 35 years.
Added by Suzanne J.
Step 1
To compute the present value, we can use the formula: \[PV = \frac{FV}{(1+r)^n}\] where PV is the present value, FV is the future value, r is the interest rate, and n is the number of years. Plugging in the values, we have: \[PV = \frac{48,318}{(1+0.07)^9}\] Show more…
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