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# What is present value of 700000 in five years if current market rate is 3 percent?

Updated: 11/3/2022

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Q: What is present value of 700000 in five years if current market rate is 3 percent?
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### What is present value of 700000 in five years and current market rate is 3 percent?

FV = PV*(1+rate)^time So, (1+.03)^5 = 1.159274074 And: 700000 = PV*1.159274074, solve for PV = 603826.15 [to the nearest cent]

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