Question: Problem 5-14 Present Value (LG5-3) Given a 6 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4

Problem 5-14 Present Value (LG5-3)

Given a 6 percent interest rate, compute the present value of payments made in years 1, 2, 3, and 4 of $1,000, $1,200, $1,200, and $1,500, respectively.

Note: Do not round intermediate calculations and round your finalanswer to 2 decimal places.

Present value= ?

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