What is the present value of $1,000 to be received 10 years from today? Assume that the investment pays 8.5% and it is compounded monthly (round to the nearest $1).
A. $893
B. $3,106
C. $429
D. $833
Answer:C
What is the present value of $1,000 to be received 10 years from today? Assume that the investment pays 8.5% and it is compounded monthly (round to the nearest $1).
A. $893 B. $3,106 C. $429 D. $833