Question: Compute the present value of a $46 payment when the discount rate is 11.2 percent with annual compounding and the payment is in 8 years?

Compute the present value of a $46 payment when the discount rate is 11.2 percent with annual compounding and the payment is in 8 years?

Answers should be rounded to two decimal places. Example $3.25

Please provide calculator values. Ex: N, I/Y, PV, PMT, FV

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