rate positively ..
computation of present value = | ||||
i | ii | iii=i*ii | ||
year | Investment | PVIF @ 6% | present value | |
1 | 16400 | 0.9434 | 15,472 | |
2 | 16400 | 0.8900 | 14,596 | |
3 | 16400 | 0.8396 | 13,770 | |
4 | 16400 | 0.7921 | 12,990 | |
5 | 16400 | 0.7473 | 12,255 | |
6 | 16400 | 0.7050 | 11,561 | |
7 | 16400 | 0.6651 | 10,907 | |
8 | 180400 | 0.6274 | 113,185 | |
Present value = | 204,736 | |||
therefore answer = | 204,736 |
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