Question

A contract calls for a lump-sum payment of $30,000. Find the present value of the contract, assuming that
(1) The payment is due in five years and the current interest rate is 9 percent;
(2) The payment is due in ten years and the current interest rate is 9 percent;
(3) The payment is due in five years and the current interest rate is 5 percent;
(4) The payment is due in ten years and the current interest rate is 5 percent.



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  • CreatedMarch 26, 2014
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