Assuming that money is worth 8%, compute the present value of

Round answers to the nearest whole number.

1. $7,000 received 15 years from today.

$Answer

2. The right to inherit $1,000,000 14 years from now.

$Answer

3. The right to receive $1,000 at the end of each of the next six years.

$Answer

4. The obligation to pay $3,000 at the end of each of the next 10 years.

$Answer

5. The right to receive $5,000 at the end of the 7th, 8th, 9th, and 10th years from today.

$Answer