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Memphic Memphic
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6 years ago
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
Textbook 
Corporate Finance: The Core

Corporate Finance: The Core


Edition: 4th
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wrote...
6 years ago
C
Explanation:  C) PV = C/r (1 - (1 + r)-N) = 250/.02 (1 - (1 + 0.02)-80)
PV = $9936.13
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