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You have just received a windfall from an investment you made in a friend's business....

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Finance

You have just received a windfall from an investment you made in a friend's business. She will be paying you $10,434 at the end of this year, $20,868 at the end of next year, and $31,302 at the end of the year after that (three years from today). The interest rate is 10.7% per year.

a. What is the present value of your windfall?

b. What is the future value of your windfall in three years (on the date of the last payment)?

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Part 1

a. What is the present value of your windfall?

The present value of your windfall is

$enter your response here.

(Round to the nearest dollar.)

Answer & Explanation Solved by verified expert
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