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An investment product promises to pay $55,000 at the end of 8 years. If an investor feels this investment should produce a rate of return
An investment product promises to pay $55,000 at the end of 8 years. If an investor feels this investment should produce a rate of return of 11%, compounded annually, what's the most the investor should be willing to pay for the investment? Note: Use tables, Excel, or a financial calculator. Round your final answer to the nearest whole dollar. (FV of $1, PV of $1, FVA of $1,PVA of $1, FVAD of $1 and PVAD of $1) Multiple Choice $55,000 $126,750 $23,866 $26,491
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