Present Value | Years | Interest Rat | Future Value | Equation |
---|---|---|---|---|
13 | 9% | $16,832 | ||
4 | 7% | $48,318 | ||
29 | 13% | $886,073 | ||
40 | 21% | $550,164 |
For each of the following, compute the present value. (round answers to two decimal places)
We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period.
1.
16832=P*(1.09)^13
P=16832/(1.09)^13
=$5490.24(Approx).
2.
48318=P*(1.07)^4
P=48318/(1.07)^4
=$36861.57(Approx).
3.
886,073=P*(1.13)^29
P=886,073/(1.13)^29
=$25597.33(Approx).
4.
550164=P*(1.21)^40
P=550164/(1.21)^40
=$268.58(Approx).
Present Value Years Interest Rat Future Value Equation 13 9% $16,832 4 7% $48,318 29 13%...
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