Appendix C Homework

i

C Homework $-$ Fa$24$ ACCT $291-5...$

Question $6-$ Appendix C Homewo

$$

Brief Exercise C$-7($Static$)$ Calculate the present value of a single amount $($LO C$-3)$

$0\mathrm{.}83$ points

Ronald has an investment opportunity that promises to pay him $$55,000$ in three years. He could earn a $6\%$ annual return investing money elsewhere.

What is the most he would be willing to invest today in this opportunity? $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)($Use tables, Excel, or a financial calculator. Round your answer to $2$ decimal places.$)$

Present value