What is the present value on January 1, 2016, of $40,000 to be received on January 1, 2019, and discounted 8% compounded annually? Round answer to two decimal places.
What is the present value on January 1, 2016, of $40,000 to be received on January 1, 2019, and discounted 8% compounded annually? Round answer to two decimal places.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 3CE
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![What is the present value on January 1,
2016, of $40,000 to be received on January
1, 2019, and discounted 8% compounded
annually? Round answer to two decimal
places.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdbc4c1be-cf9b-44f4-b9e4-db5c997d8a35%2F8c9b0c8b-6435-4d95-b8c7-a722f3965cd6%2Fqoymls_processed.jpeg&w=3840&q=75)
Transcribed Image Text:What is the present value on January 1,
2016, of $40,000 to be received on January
1, 2019, and discounted 8% compounded
annually? Round answer to two decimal
places.
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