Ten years from now,you will be inheriting $100,000.What is this inheritance worth to you today if you can earn 5.5 percent interest,compounded annually?
A)$58,543.06
B)$63,215.46
C)$72,419.05
D)$72,798.47
E)$74,003.15

Name: Ten years from now,you will be inheriting $100,000.What is this inheritance worth to you today if you can earn 5.5 percent interest,compounded annually? A)$58,543.06 B)$63,215.46 C)$72,419.05 D)$72,798.47 E)$74,003.15
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Question

Quizplus · Accepted Answer

Present value = $100,000/(1 + 0.055)¹⁰ = $58,543.06

Ten Years from Now,you Will Be Inheriting $100,000