Using the following partial table of present value of $1 at compound interest,determine the present value of $35,000 to be received three years hence,with earnings at the rate of 10% a year.

Question

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The present value of $1 to be received three years hence, with earnings at the rate of 10% a year, is $0.7513. Therefore, the present value of $35,000 to be received three years hence, with earnings at the rate of 10% a year, is $35,000 x $0.7513 = $26,285.

Using the Following Partial Table of Present Value of $1