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Title: If the current rate of interest is 8% APR, then the present value of an investment that pays $250 ... Post by: Memphic on Nov 19, 2017 If the current rate of interest is 8% APR, then the present value of an investment that pays $250 per quarter and lasts 20 years is closest to:
A) $18,519 B) $48,443 C) $9936 D) $20,000 Title: Re: If the current rate of interest is 8% APR, then the present value of an investment that pays ... Post by: anicid on Nov 19, 2017 C
Explanation: C) PV = C/r (1 - (1 + r)-N) = 250/.02 (1 - (1 + 0.02)-80) PV = $9936.13 |