Assume that you are going to receive $50,000 in 10 years. The current market rate of interest is 4%. Using the present value of $1 table in Exhibit 5, determine the present value of this amount compounded annually. Round to the nearest whole dollar.

you didn't post any answer choices, so its not 100% clear what your teacher is looking for

however, log(15/7) is equivalent to log(15) - log(7)

i'm using the rule log(x/y) = log(x) - log(y)

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step-by-step explanation:

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answer:

at time x=0 we have 1000, at time x=1 we have 2000, at time x=2 we have 4000.  

so that's an initial value of 1000 and a ratio of 2,

y = 1000 (2^x)

hope this !

is this the complete