Question: I don't understand this. Please thoroughly explain. Carry all calculations to two decimal places to reduce rounding error, especially in multi-step problems. P5-17 Time value

I don't understand this. Please thoroughly explain. Carry all calculations to two decimal places to reduce rounding error, especially in multi-step problems.

P5-17 Time value comparisons of single amounts In exchange for a $23,000 payment today, a well-known company will allow you to choose one of the alternatives shown in the following table. Your opportunity cost is 9%. Alternative Single amount A $28,500 at end of 3 years B $54,000 at end of 9 years C $160,000 at end of 20 years a. Find the value today of each alternative. b. Are all the alternatives acceptable? That is, are they worth $23,000 today? c. Which alternative, if any, will you take

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