15. What is the present value of $8,000 to be received at the end of 6 years if the required rate of return is 15%? Following is a table for the present value of $1 at compound interest: Year 15% Year 15% 1 0.870 6 0.432 2 0.756 7 0.376 3 0.658 8 0.327 4 0.572 9 0.284 5 0.497 10 0.247 Following is a table for the present value of an annuity of $1 at compound interest: Year 15% Year 15% 1 0.870 6 3.785 2 1.626 7 4.160 3 2.283 8 4.487 4 2.855 9 4.772 5 3.353 10 5.019
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You have a future value of $8,000 that you will receive in 6 years, and the required rate of return is 15%. You are also provided with a table for the present value of $1 at compound interest for various years at a 15% discount rate. Show more…
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