The Solution to This Problem Requires Time Value of Money $1.338 \times 1.338$

Short Answer

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. $1.338 \times 1.338$ .
b. $1 / 1.338$ .
c. $1 / ( 1.338 \times 1.338 )$ .
d. $0.338$ .