present value of $153,000 to be received in 14 years from today. Assume a per annum discount rate of 16%, compounded annually.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 5P
icon
Related questions
Question

What is the present value of $153,000 to be received in 14 years from today.  Assume a per annum discount rate of 16%, compounded annually.  (Round to nearest penny, e.g. 1234.56)

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Effective Annual Rate Of Return
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT