What is the present value of $1,000 to be received 10 years from today? - 4045

Solution Posted by
UoPExpert

UoPExpert

Rating : (2)F
Solution Detail
Price: $1.30
  • From: ,
  • Posted on: Tue 27 Mar, 2012
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description

What is the present value of $1,000 to be received 10 years from today? Assume that the investment pays 8.5% and it is compounded monthly (round to the nearest $1).

a.$893

b.$3,106

c.$429

d.$833

 
Solution Description

What is the present value of $1,000 to be received 10 years from today? Ass