Round answers to the nearest whole number. 1. $7,000 received 15 years from today. $ 2. The right to inherit $1,000,000 14 years from now. $ 3. The right to receive $1,000 at the end of each of the next six years. $ 4. The obligation to pay $3,000 at the end of each of the next 10 years. $ 5. The right to receive $5,000 at the end of the 7th, 8th, 9th, and 10th years from today.

Round answers to the nearest whole number. 1. $7,000 received 15 years from today. $ 2. The right to inherit $1,000,000 14 years from now. $ 3. The right to receive $1,000 at the end of each of the next six years. $ 4. The obligation to pay $3,000 at the end of each of the next 10 years. $ 5. The right to receive $5,000 at the end of the 7th, 8th, 9th, and 10th years from today.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Present Value Computations
Assuming that money is worth 8%, compute the present value of
Round answers to the nearest whole number.
1. $7,000 received 15 years from today.
$
2. The right to inherit $1,000,000 14 years from now.
$
3. The right to receive $1,000 at the end of each of the next six years.
$
4. The obligation to pay $3,000 at the end of each of the next 10 years.
$
5. The right to receive $5,000 at the end of the 7th, 8th, 9th, and 10th years from today.
$

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