At a rate of 5.5%, what is the present value of the following cash flow stream? Years 2 3 Cash Flows $0 $750 $600 $500 $400 Show your work in Excel and highlight your answer to this question. Your excel file will be submitted at the end of the exam.

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Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.