Knowledge Check You need cash of $18,700 to be received in 5 years, discounted at 7% compounded annually. Indicate the inputs to be entered into the financial calculator keys. What is the present value of the amount to be received? (Round present value answer to two decimal places (e.g., 52.75).) Inputs Calculator N Keys Present value $ ? N/A PV PMT FV

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 1MC
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You need cash of $18,700 to be received in 5 years, discounted at 7% compounded annually. Indicate the inputs to be
entered into the financial calculator keys. What is the present value of the amount to be received? (Round present value
answer to two decimal places (e.g., 52.75).)
Inputs
Calculator
N
Keys
Present value $
? N/A
PV PMT
FV
Transcribed Image Text:Knowledge Check You need cash of $18,700 to be received in 5 years, discounted at 7% compounded annually. Indicate the inputs to be entered into the financial calculator keys. What is the present value of the amount to be received? (Round present value answer to two decimal places (e.g., 52.75).) Inputs Calculator N Keys Present value $ ? N/A PV PMT FV
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