The present value of $15,617 expected 3 year from today at an interest rate (discount rate) of 6.8 percent per year is _____. (Round your final answer to a whole integer.)

Alright, let's break this down.

We want to figure out how much $15,617, which you'll receive three years from now, is worth today. To do that, we need to calculate the present value of this future amount.

Here's how we do it:

1. We start with the formula for the present value: PV = FV / (1 + r) ^ t, where FV is the future value, r is the interest rate, and t is the number of years.

2. In this case, FV is $15,617, r is 6.8% or 0.068 in decimal form, and t is 3 years.

3. So, we plug these values into the formula: PV = $15,617 / (1 + 0.068) ^ 3.

4. After calculating the values, we get: PV = $15,617 / 1.2214 =$12,798.67

So, the present value of $15,617 expected three years from today at an interest rate of 6.8$12,799. This means that, in today's dollars, $15,617 received three years from now is worth about$12,799.