Using the Compound Interest Tables, Answer Each of the Following $\$ 50,000$

question 80

Essay

Using the compound interest tables, answer each of the following questions.
Required: a. What is the present value on January 1,2014, of $\$ 50,000$ due on January 1,2020 , and discounted at $7 \%$ compounded annually?
b. What is the present value on January 1,2014, of $\$ 8,000$ due on January 1,2022, and discounted at $10 \%$ compounded semiannually?

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Definitions:

Political Party

An organized group of people with at least roughly similar political aims and opinions, that seeks to influence public policy by getting its candidates elected.

Salvation Army

A charitable organization that provides social services, including disaster relief, rehabilitation centers, and thrift stores, to those in need across the globe.

Medical Expenses

Costs incurred for the diagnosis, cure, treatment, or prevention of disease, which may be deductible under certain conditions.

Maternity Clothes

Specialized apparel designed to accommodate a woman's body during pregnancy for comfort and style.