What is the present value of $ 7 comma 000 received a. 14 years from today when the interest rate is 4 % per year? b. 28 years from today when the interest rate is 8 % per year? c. 7 years from today when the interest rate is 2 % per year?
a. Present value = $7,000 / 1.0414 = $4,042.33
b. Present value = $7,000 / 1.0828 = $811.40
c. Present value = $7,000 / 1.027 = $6,093.92
What is the present value of $ 7 comma 000 received a. 14 years from today...
What is the present value of $ 7 comma 000$7,000 received: a. TwentyTwenty years from today when the interest rate is 4 %4% per year? b. TenTen years from today when the interest rate is 4 %4% per year? c. FiveFive years from today when the interest rate is 4 %4% per year?
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