Multiple Choice
Which of the following is the correct expression for finding the present value of a $500 payment two years from today if the interest rate is 6 percent?
A) $500/(1.06) 2
B) $500 - 500(1.06) 2
C) $500/(1.02) 6
D) None of the above is correct.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q66: Assuming the interest rate is 5 percent,which
Q67: Rita puts $10,000 into each of two
Q68: Twenty years ago,Dr.Montgomery borrowed money from her
Q69: What is the present value of a
Q70: The price of a bond is equal
Q72: You are expecting to receive $750 at
Q73: The present value of a future payment
Q74: Three people go to the bank to
Q75: Suppose the interest rate is 10 percent.Which
Q76: A judge requires Harry to make a