Multiple Choice
The solution to this problem requires time value of money calculations.Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations.
If the interest factor used to calculate the future value of $1 at 6% for 5 periods is 1.338, then the present value of $1 at 6% for 5 periods is
A) 1.338 × 1.338.
B) 1/1.338.
C) 1/1.338 × 1.338) .
D) 0.338.
Correct Answer:
Verified
Correct Answer:
Verified
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