Question

What is the present value of $1,000 to be received in 12 years invested at a rate of 8%?

Answer 1

2,518

Step-by-step explanation:

0 = 1,000

1 = 1,080

2 = 1,166

3 = 1,260

4 = 1,360

5 = 1,469

6 = 1,587

7 = 1,714

8 = 1,851

9 = 1,999

10 = 2,159

11 = 2,332

12 = 2,518