Present value calculations Using a present value table, your calculator, or a computer program present value function, calculate the present value of
a. A car down payment of $3,000 that will be required in two years, assuming an interest rate of 10%.
b. A lottery prize of $6 million to be paid at the rate of $300,000 per year for 20 years, assuming an interest rate of 10%.
c. The same annual amount as in part b , but assuming an interest rate of 14%.
d. A capital lease obligation that calls for the payment of $8,000 per year for 10 years, assuming a discount rate of 8%.
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