What is the present value of $575 in a 1 year if the current rate of interest is 4 per cent?

Name: What is the present value of $575 in a 1 year if the current rate of interest is 4 per cent?
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Quizplus · Accepted Answer

The present value (PV) is calculated using the formula: PV = FV / (1 + r)^n, where FV is the future value, r is the interest rate, and n is the number of periods. Here, PV = $575 / (1 + 0.04)^1 = $552.88.

What Is the Present Value of $575 in a 1