Multiple Choice
You are promised that when you retire from your current job, in 40 years time, you will receive a gold watch valued at $1 000. If you can invest money at 5% annual interest, what is the present worth of this promise?
A) $142
B) $156
C) $167
D) $211
E) $231
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q11: A company undertakes a 5-year project that
Q12: In this question, you are to write
Q13: How much money will you accumulate in
Q14: A municipality has just completed the construction
Q15: In this question, you are to write
Q17: In this question, you are to write
Q18: How much Jim can accumulate in a
Q19: What is an annuity?<br>A)a series of payments
Q20: An oil-extracting company expects to produce 1
Q21: Natalie received a gift of $1 000