What is the value today of an investment that pays $500 - 3802

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Request Description

What is the value today of an investment that pays $500 every year at year-end during the next 15 years if the annual interest rate is 9%?

a.           $4,030.50

b.           $7,500.00

c.           $3,500.00

d.           $7,000.00

         

Solution Description

What is the value today of an investment that pays $500 every year at year-end during the next 15 years if the annual interest rate is 9%?

a.           $4,030.50

b.