Phil Goode will receive $109,000 in 25 years. His friends are very jealous of him.
If the funds are discounted back at a rate of 13 percent, what is the present value of his future “pot of gold”?
Sherwin Williams will receive $18,250 a year for the next 15 years as a result of a picture he has painted
a. What is the present value of these payments if the discount rate is 7 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)