What is the discounted value of $60,000 to be received after 6 years if the ongoing rate of interest is 6 percent per year?

Name: What is the discounted value of $60,000 to be received after 6 years if the ongoing rate of interest is 6 percent per year?
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Question

Quizplus · Accepted Answer

The discounted value is calculated using the formula for present value: PV = FV / (1 + r)^n, where FV is the future value, r is the interest rate, and n is the number of years. Plugging in the values: PV = $60,000 / (1 + 0.06)^6 = $42,297.63.

What Is the Discounted Value of $60,000 to Be Received