Calculate the present value PV (in dollars) of an investment that will be worth $1,000 at the stated interest rate after the stated amount of time. (Round your answer to the nearest cent.) 4 years, at 10% per year, compounded annually PV = $

Calculate the present value PV (in dollars) of an investment that will be worth $1,000 at the stated interest rate after the stated amount of time. (Round your answer to the nearest cent.) 4 years, at 10% per year, compounded annually PV = $

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 2P

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Question

Calculate the present value PV (in dollars) of an investment that will be worth $1,000 at the stated interest rate after the stated amount of time. (Round your answer to the nearest cent.)

4 years, at 10% per year, compounded annually

PV = $

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