You have just received a windfall from an investment you made in a friend's business....
80.2K
Verified Solution
Link Copied!
Question
Finance
You have just received a windfall from an investment you made in a friend's business. She will be paying you $10,434 at the end of this year, $20,868 at the end of next year, and $31,302 at the end of the year after that (three years from today). The interest rate is 10.7% per year.
a. What is the present value of your windfall?
b. What is the future value of your windfall in three years (on the date of the last payment)?
Question content area bottom
Part 1
a. What is the present value of your windfall?
The present value of your windfall is
$enter your response here.
(Round to the nearest dollar.)
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!
