Steve Smith will receive $82,870 in 5 years from a trust fund set up by his father. Assuming the appropriate interest rate for the discount is 10% (compounded semiannually), what is the present value of this amount today? (Round factor values to 5 decimal places, for example, 1.25124. Round answers to the nearest whole dollar, for example, 5275.)

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To calculate the present value of 82870 to be received in 5 years we ne... View the full answer