For each of the following, compute the present value (Do not round intermediate calculations and round...

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For each of the following, compute the present value (Do not round intermediate calculations and round your answers to 2 deci

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Answer 1

Answer #1

1)

Present value = Future value / (1 + r)ⁿ

Present value = 14,551 / (1 + 0.08)¹⁴

Present value = 14,551 / 2.937194

Present value = $4,954.05

2)

Present value = Future value / (1 + r)ⁿ

Present value = 42,557 / (1 + 0.14)⁵

Present value = 42,557 / 1.925415

Present value = $22,102.77

3)

Present value = Future value / (1 + r)ⁿ

Present value = 877,073 / (1 + 0.15)³⁰

Present value = 877,073 / 66.211772

Present value = $13,246.48

4)

Present value = Future value / (1 + r)ⁿ

Present value = 541,164 / (1 + 0.08)³⁵

Present value = 541,164 / 14.785344

Present value = $36,601.38

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Answer 2

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