Determine the present value (PV) if $15,000 is to be received at the end of eight years and the discount rate is 9 percent How would your answer change if you had to wait six years to receive the $15,000 ...

Determine the present value (PV) if $15,000 is to be received at the end of eight years

Question:

Determine the present value (PV) if $15,000 is to be received at the end of eight years and the is 9 percent. How would your answer change if you had to wait six years to receive the $15,000?
Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal...