In 6 years you are going to need $1,000 dollars.How much will you need to invest today at 7% in order to save the money you need?
A) $666.34
B) $712.99
C) $622.75
D) $704.23
E) $646.99

Question

Quizplus · Accepted Answer

PV = 11ea7fdb_fc2c_2c1b_a768_8983daee2e45_TB2902_00 PV = 11ea7fdb_fc2c_2c1c_a768_1f058be1fedd_TB2902_00 = $666.34
Using a financial calculator:
N = 6, I/Y = 7, PMT = 0, FV = -1,000, cpt PV = $666.34

In 6 Years You Are Going to Need $1,000 Dollars