Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. using the following table, what is the present val

Using the following table, what is the present value of $22,200 to be received in...

90.2K

Verified Solution

Question

Finance

image

Using the following table, what is the present value of $22,200 to be received in five years, if the market rate is 6% compounded annually? Round to the nearest whole number. \begin{tabular}{|c|c|c|c|c|} \hline Periods & 5% & 6% & 7% & 10% \\ \hline 1 & 0.95238 & 0.94340 & 0.93458 & 0.90909 \\ \hline 2 & 0.90703 & 0.89000 & 0.87344 & 0.82645 \\ \hline 3 & 0.86384 & 0.83962 & 0.81630 & 0.75132 \\ \hline 4 & 0.82270 & 0.79209 & 0.76290 & 0.68301 \\ \hline 5 & 0.78353 & 0.74726 & 0.71299 & 0.62092 \\ \hline 6 & 0.74622 & 0.70496 & 0.66634 & 0.56447 \\ \hline 7 & 0.71068 & 0.66506 & 0.62275 & 0.51316 \\ \hline 8 & 0.67684 & 0.62741 & 0.58201 & 0.46651 \\ \hline 9 & 0.64461 & 0.59190 & 0.54393 & 0.42410 \\ \hline 10 & 0.61391 & 0.55840 & 0.50835 & 0.38554 \\ \hline \end{tabular}

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

3). Market values and book values-Klingon Cruisers, Inc., purchased new cloaking machinery three years ago for$9.6...

Finance
Q

Solve the given Boundary Value Problem. Apply the method undetermined coefficients when you solve for the...

Advance Math
Q

Discuss the various psychological disorders that emphasize emotional states and thought disturbances.

Psychology
Q

“This is really an odd situation,” said Jim Carter, general manager of Highland Publishing Company. “We...

Accounting
Q

In 2018, Susan (44 years old) is a highly successful architect and is covered by an...

Accounting
Q

Which of the following IS a characteristic of life A Photosynthesis B Homeostasis C Replication...

Biology
Q

restaurant waiting times min 20 35 15 25 5 10 40 30 10 50 20...

Algebra
Q

Chapter 5 MULTIPLE CHOICE. Choose the one alternative that...

Accounting
Q

Los costos fijos expresados por unidad no cambian con los cambios en la actividad. ES...

Accounting
Q

When the net present value method is used, the internal rate of return is the...

Accounting
Q

What might be the disadvantages of leasing the assets instead of owning them?

Accounting
Q

Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $150 million of 6% bonds, dated...

Accounting