as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
find the present value of the cost of $1,000 two years from now, given a discount rate of 7%.
user
the present value of the cost of $1,000 two years from now, given a discount rate of 7%, is $922.32.
assistant