At an Interest Rate of 14%, Approximately How Much Would

Multiple Choice

At an interest rate of 14%, approximately how much would you need to invest today if you wanted to have $2,000,000 in 10 years? (Ignore income taxes.) Use Exhibit 7B-1 and Exhibit 7B-2, to determine the appropriate discount factor(s) using the tables provided. (Round your intermediate calculations to 3 decimal places.)

A) $383,436
B) $540,000
C) $740,741
D) $1,043,200