What is the present value of

c. $26,000 in 14 years at 6 percent

Short Answer

Expert verified

Answer

The present value is $11,499.83

Step by step solution

01

Identification of the required information

Future value (FV) = $26,000

Interest Rate (i) = 6%

Period (n) = 14 year

02

Present value (PV)

PV=FV(1+i)n=$26,0001+6%14=$11,499.83

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