Determine the combined present value as of December 31, 2016, of the following f

Question

Determine the combined present value as of December 31, 2016, of the following four payments to be received at the end of each of the designated years, assuming an annual interest rate of 8%. 23:21 ezto.mheducation.com 10.00 points Determine the combined present value as of December 31, 2016, of the following four payments to be received at the end of each of the designated years, assuming an annual interest rate of 8%EyoSI, Py ofS1. EVAoSI·PAofS1. EVADOH and PVAD0H) (Use appropriate factor(s) from the tables provided.) $5,000 6,000 8,000 9,000 2017 2018 2020 2022 2017 2018 2020 2022 8% 8% 8% 8% $ 5.000 8,000 9,000 References eBook& Resources

Explanation / Answer

Year received i n (Number of years) Payment PV factor at 8% Present Value 2017 8% 1 $    5,000 0.926 $   4,630 2018 8% 2 $    6,000 0.857 $   5,142 2020 8% 4 $    8,000 0.735 $   5,880 2022 8% 6 $    9,000 0.630 $   5,670 Total $ 21,322

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