Smolinski Company is considering an investment that will return a lump sum of $500,000 five years from now. What amount should Smolinski Company pay for this investment in order to earn a 4% return? Show calculations using all four methods: (a) formula, (b) factor Table PV.1, (c) financial calculator, and (d) Excel function PV.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Please solve question 2 with excel function PV, thanks

Smolinski Company is considering an investment that will return a lump sum of $500,000 five years from now. What amount should Smolinski Company pay
for this investment in order to earn a 4% return? Show calculations using all four methods: (a) formula, (b) factor Table PV.1, (c) financial calculator, and (d) Excel function PV.
2)
Transcribed Image Text:Smolinski Company is considering an investment that will return a lump sum of $500,000 five years from now. What amount should Smolinski Company pay for this investment in order to earn a 4% return? Show calculations using all four methods: (a) formula, (b) factor Table PV.1, (c) financial calculator, and (d) Excel function PV. 2)
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