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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Explain the factors in the present value of a single sum table.

To determine

Provide explanation for the factors available in the present value of a single sum table.

Explanation

Present value of a single sum:

Present value of a single sum is the today’s amount of future value of a single sum discounted at a rate of interest till particular current date. The process of converting future cash flows to the present value represents discounting.

Formula to compute the present value of single sum:

PV=FV×1[1+i]n

(or),

Formula to compute the present value of single sum using table value:

PV=FV×(pn,i)

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