An investment will pay $21,700 at the end of the first year, $31,700 at the end of the second year, and $51,700 at the end of the third year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use the appropriate factor(s) from the tables provided. Required: Determine the present value of this investment using a 8 percent annual interest rate. Note: Round your intermediate calculations and final answer to nearest whole dollar. Present value of investment
An investment will pay $21,700 at the end of the first year, $31,700 at the end of the second year, and $51,700 at the end of the third year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use the appropriate factor(s) from the tables provided. Required: Determine the present value of this investment using a 8 percent annual interest rate. Note: Round your intermediate calculations and final answer to nearest whole dollar. Present value of investment
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:An investment will pay $21,700 at the end of the first year, $31,700 at the end of the second year, and $51,700 at the end of the third
year. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
Note: Use the appropriate factor(s) from the tables provided.
Required:
Determine the present value of this investment using a 8 percent annual interest rate.
Note: Round your intermediate calculations and final answer to nearest whole dollar.
Present value of investment
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