If you knew that an investment was going to pay you $1,188,757 in 20 years, and you knew that the annual interest rate over that time would be 2 percent, you could calculate the present value to be:
A) $1,000,000.
B) $1,500,000.
C) $905,000.
D) $800,000.
Correct Answer:
Verified
Q27: Which of the following is closest to
Q28: The process of accumulation that occurs when
Q29: Present value:
A)is always greater than the future
Q30: Which of the following is closest to
Q31: Present value is how much a certain
Q33: Knowing how to translate between present and
Q34: The present value of $250,000 received in
Q35: Compounding is:
A)beneficial to savers, but costly to
Q36: If you knew that an investment was
Q37: The present value of $500,000 received in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents