Problem
What is the present value of the following set of cash flows if the discount rate is 8%? (the cash flows occur at the end of each period) (round answer to nearest penny and enter in the following format 12345.67)
Year 0 cash flow = -1500 (a negative cash flow)
Year 1 cash flow = 500
Year 2 cash flow = 1000
Year 3 cash flow = 2000
Year 4 cash flow = 4000