Multiple Choice
Which one of the following is the correct formula for computing the present value of $600 to be received in 6 years? The discount rate is 7 percent.
A) PV = $600 (1 + .06) 7
B) PV = $600 (1 + .07) 6
C) PV = $600 × (.07 × 6)
D) PV = $600/(1 + .07) 6
E) PV = $600/(1 + 6) .07
Correct Answer:
Verified
Correct Answer:
Verified
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