Use present value tables to compute the present value of $600,000 to be paid in
ID: 2469112 • Letter: U
Question
Use present value tables to compute the present value of $600,000 to be paid in 20 years, with an interest rate of 9 percent. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1) (Use appropriate factor(s) from the tables provided and final answer to the nearest whole dollar amount.)
Use present value tables to compute the present value of $600,000 to be paid in 20 years, with an interest rate of 9 percent. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1) (Use appropriate factor(s) from the tables provided and final answer to the nearest whole dollar amount.)
Explanation / Answer
present value of $600,000 =600,000*9.12=5,477,127.40.
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