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Chemistry Asked by a SnapAndSolve user · about 20 hours ago

Find the lump sum that must be deposited today to have a future value of $25,000 in 9 years if the funds...

28. Find the lump sum that must be deposited today to have a future value of $25,000 in 9 years if the funds earn 8%, compounded annually. Use the table of values below.
$12,506.25
$12,123.68
$12,432.19
$13,245.87

Answer

To find the present value, use the present value factor from the table for 8% over 9 years, which is 0.50025. Multiply this factor by the future value of $25,000:

  1. Present Value = $25,000 × 0.50025 = $12,506.25

The correct answer is $12,506.25.

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