Week 4 #5. if jares, inc., has an equity multiplier of 1.57, total

Solve for the unknown number of years in each of the following (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)):

Present Value

Years

Interest Rate

Future Value

$

590

[removed]

9

%

$

1,502

840

[removed]

10

1,943

18,700

[removed]

17

308,639

21,800

[removed]

15

454,942

Imprudential, Inc., has an unfunded pension liability of $565 million that must be paid in 15 years. To assess the value of the firm’s stock, financial analysts want to discount this liability back to the present.

If the relevant discount rate is 5.8 percent, what is the present value of this liability? (Enter your answer in dollars not in millions. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))