You are going to receive $220,000 in 50 years. What is the difference in present value between using a discount rate of 16 percent versus 4 percent? Use Appendix B as an approximate answer, but...

Extracted text: You are going to receive $220,000 in 50 years. What is the difference in present value between using a discount rate of 16 percent versus 4 percent? Use Appendix B as an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Input your answer as a positive value. Do not round intermediate calculations. Round your final answer to 2 decimal places.) Difference in present value