Question: will rate Use the following table to answer the question. Periods 5% 6% 7% 10% 1 0.95238 0.94340 0.93458 0.90909 2 0.89000 0.87344 0.82645 0.90703

will rate Use the following table to answer the question. Periods

will rate

Use the following table to answer the question. Periods 5% 6% 7% 10% 1 0.95238 0.94340 0.93458 0.90909 2 0.89000 0.87344 0.82645 0.90703 0.86384 3 0.83962 0.81630 0.75132 4 0.82270 0.79209 0.76290 0.68301 5 0.78353 0.74726 0.71299 0.62092 6 0.74622 0.70496 0.66634 0.56447 7 0.71068 0.66506 0.62275 0.51316 8 0.67684 0.62741 0.58201 0.46651 0.64461 0.59190 0.54393 0.42410 9 10 0.61391 0.55840 0.50835 0.38554 What is the present value of a $53,400 to be received five years, if the market rate is 6% compounded annually? Round your answer to two decimal places

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