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28 February, 10:22

What is the present value of $992 to be received in 13.5 years from today if our discount rate is 3.5 percent?

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  1. 28 February, 13:06
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    Answer: $1578

    Step-by-step explanation:

    1) Take your discount rate of 3.5% and convert it to decimal form (0.035)

    2) Then, 0.035 * 13.5 = 1.59109

    3) 1.59109 * 992 = $1578
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