AC312 Intermediate Financial Accounting II Nicholas Moeler Homework: Chapter 13

Question

AC312 Intermediate Financial Accounting II Nicholas Moeler Homework: Chapter 13 Homework Score: 0 of 1 pt 4 of 4 (4 complete) HW Sc Present Value-1 (similar to) 3 Present Value-1 Find the amount that should be set aside today to yieid the desired future amount. Use the table. Future amount Interest Compounding Investment needed rate period time $2,000 2% semiannually 2years Cick here to view page 1 of the table. Click.here to view page 2 of the table, The amount that should be set aside today is $ (Round to the nearest cent as needed.)

Explanation / Answer

Number of periods = 2(2) = 4 periods

Period rate = 2%/2 = 1%

Table value = 0.96098

Present value = $2,000(0.96098) = $1,921.96

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