Multiple Choice
Which one of the following is the correct formula for the current value of $600 invested today at 5 percent interest for 6 years?
A) PV = $600/ [(1 + .06) × 5]
B) PV = $600/ [(1 +.05) × 6]
C) PV = $600/ (.06 × 5)
D) PV = $600 / (1 + .05) 6
E) PV = $600 / (1 + .06) 5
Correct Answer:
Verified
Correct Answer:
Verified
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