Present Value Computations Using the present value tables, solve the following. (Click here to access the time value of money tables to use with this problem.) Round your answers to two decimal places. Required: 1. What is the present value on January 1, 2016, of $30,000 due on January 1, 2020, and discounted at 10% compounded annually? $ 20,490.40 X 2. What is the present value on January 1, 2016, of $40,000 due on January 1, 2020, and discounted at 11% compounded semiannually? $ 26,063.95 X 3. What is the present value on January 1, 2016, of $50,000 due on January 1, 2020, and discounted at 16% compounded quarterly? $ 26,695.41 X Feedback Check My Work Present value of a single sum is the value in today's dollars of a cash flow to occur at a future date. Discounting is the process of converting a future cash flow to a present value. The following questions can help you with Time Value of Money questions: When do the cash flows occur? How much are the cash flows? How many times a year does the interest accrue? What is the annual interest rate