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Complete the following using the present value table 12.3.

Complete the following using the present value table 12.3.

amount desired at end of period, length of time, rate, compounded.

On PV table 12.3
period used, rate used, pv factor used, pv of amount desired at end of period.


 12-10. $20,000 20 years 8% Annually



Solutions

Expert Solution

Period used = 20 years

rate used = 8%

PV factor to be used = PV factor at 8% for 20th period = 0.21455

Present value of amount desired at the end of period = $20,000 * 0.21455 = $4,291

ekkarill92 answered 2 years ago
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