Your firm is concerned about a financial obligation of $17 million coming due in 5 years. If your firm could earn 6.5% APR on an investment, how much would your firm have to invest today to fund (finance) the future $17 million obligation? (In other words, what is the PV of $17 M due 5 years from now if the interest rate is 6.5%?) Assume annual compounding. Answer in units of millions of dollars and to 2 decimal points. (eg. $17.12 )

Answer rating: 100% (QA)

To calculate the present value PV of 17 million due 5 years from now we can use ... View the full answer