You want to purchase a security that will pay you $1,000 nine years from now. If you want to earn an annual nominal rate of 3.35%, how much should you pay for this investment today?
A)$727.41
B)$731.46
C)$741.41
D)$743.37
E)$762.01

Question

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The Answer of You want to purchase a security that will pay you $1,000 nine years from now. If you want to earn an annual nominal rate of 3.35%, how much should you pay for this investment today?
A)$727.41
B)$731.46
C)$741.41
D)$743.37
E)$762.01

You Want to Purchase a Security That Will Pay You