What is the present value of $1,000 to be received 10 years from today? Assume - 3757

Solution Posted by
Solution Detail
Price: $1.25
  • From: ,
  • Posted on: Mon 26 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? Assume that the investment pays 8.5% and it is compounded monthly