Answer:
$11,057.12
Explanation:
We use the present value function that is shown in the spreadsheet which is attached below:
Data Provided in the question are:
Future value = $12,800
Rate of interest = 5%
NPER = 3 years
PMT = $0
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the present value is $11,057.12
