Compute the present value of a $5,100 deposit in year 3, and another $4,600 deposit at...
Compute the present value of a $5,100 deposit in year 3, and another $4,600 deposit at the end of year 6 using an 9 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Homework Answers
Present value = 5,100 / (1 + 0.09)3 + 4,600 / (1 + 0.09)6
Present value = 3,938.1357 + 2,742.8297
Present value = $6,680.97
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