Following is a table for the present value of $1 at compound interest: Year 6%   10%   12% 1 0.943       0.909       0.893     2 0.890       0.826       0.797     3 0.840       0.751       0.712     4 0.792       0.683       0.636     5 0.747       0.621       0.567     Following is a table for the present value of an annuity of $1 at compound interest: Year 6%   10%   12% 1 0.943       0.909       0.893     2 1.833       1.736       1.690     3 2.673       2.487       2.402     4 3.465       3.170       3.037     5 4.212       3.791       3.605     Using the tables provided, the present value of $47,000 (rounded to the nearest dollar) to be received 3 years from today, assuming an earnings rate of 6%, is

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Following is a table for the present value of $1 at compound interest:

Year 6%   10%   12%
1 0.943       0.909       0.893    
2 0.890       0.826       0.797    
3 0.840       0.751       0.712    
4 0.792       0.683       0.636    
5 0.747       0.621       0.567    

Following is a table for the present value of an annuity of $1 at compound interest:

Year 6%   10%   12%
1 0.943       0.909       0.893    
2 1.833       1.736       1.690    
3 2.673       2.487       2.402    
4 3.465       3.170       3.037    
5 4.212       3.791       3.605    

Using the tables provided, the present value of $47,000 (rounded to the nearest dollar) to be received 3 years from today, assuming an earnings rate of 6%, is

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