Answer Happy

Present value concept Answer each of the following questions. a. How much money would you have to invest today to accumulate $3,400 after 11 years if the rate of return on your investment is 9%? b. What is the present value of $3,400 that you will receive after 11 years if the discount rate is 9%? c. What would you be willing to spend today for an investment that will pay $3,400 in 11 years if your opportunity cost is 9%? If you could buy the investment for less than that, what would that imply about your rate of return? d. Compare, contrast, and discuss your findings in part a through c. a. A single investment made today, earning 9% annual interest, worth $3,400 at the end of 11 years is $ (Round to the nearest cent.)