Problem 5-4 (similar to)

(Present value) What is the present value of the following future amounts?

a. $800 to be received 8 years from now discounted back to the present at 11 percent.

b. $300 to be received 6 years from now discounted back to the present at 8 percent.

c. $1,100 to be received 13 years from now discounted back to the present at 4 percent.

d. $1,050 to be received 4 years from now discounted back to the present at 18 percent.