Question
In: Accounting
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
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