FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At an annual interest rate of 7%, the present value of $5000 received in five years is closest to: A. $3565 B. $6750 C. $7015

At an annual interest rate of 7%, the present value of $5000 received in five years is closest to:

A. $3565

B. $6750

C. $7015

D. $7035

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus And Its Applications

Calculus And Its Applications

Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar

14th Edition

0134437772, 9780134437774

Students also viewed these Finance questions

Question

★★★★★
Carnival Corporation is the worlds largest cruise line company. Its printing costs for brochures are initially recorded as Prepaid Advertising and are later charged to Advertising Expense when they...

Answered: 1 week ago

Question

★★★★★
=+23. Marketing Math You plan to operate a basketball sports camp during the summer at Duke University. Total number of participants for the camp is 200. Camp participants will stay three nights in...

Answered: 1 week ago

Question

★★★★★
=+a) The state with the highest leverage and largest Cooks Distance is Alaska. It is plotted with an x in the residuals plot. Here are a scatterplot of the residuals, a normal probability plot of the...

Answered: 1 week ago

Question

★★★★★
Capacity costs Kens Cornerspot, a popular university eatery in a competitive market, has seating and staff capacity to serve about 600 lunch customers every day. For the past two months, demand has...

Answered: 1 week ago

Question

★★★★★
Early in January 2013, Tellco, Inc., acquired a new machine and incurred $9,000 of interest, installation, and overhead costs that should have been capitalized but were expensed. The company earned...

Answered: 1 week ago

Question

★★★★★
Evan needed to get his computer fixed. He took it to the repair store. The technician at the store worked on the computer for 4.5 hours and charged him $97 for parts. The total was $479.50. What was...

Answered: 1 week ago

Question

★★★★★
Provide a complete solution to each question. Explain your idea using proper terminology. A motorist drives along a highway at an average speed of 124 km/h. The speed limit is 100 km/h. (a) If the...

Answered: 1 week ago

Question

★★★★★
Maxwells equations show that a. Electromagnetic waves move at the speed of light b. The fabric of space is curves by masses c. Force is mass times acceleration d. Regardless of the mass, all object...

Answered: 1 week ago

Question

★★★★★
On January 1 , 2 0 1 8 , Princess Corporation leased equipment to King Company. The lease term is ten years. The first payment of $ 8 0 0 , 0 0 0 was made on January 1 , 2 0 1 8 . The equipment cost...

Answered: 1 week ago

Question

★★★★★
Lucia has a bank account at First Street Bank. She received Form 1099-INT, Interest Income, shown below. She has no other interest or dividends to report. How should this income be reported on...

Answered: 1 week ago

Question

★★★★★
Use Exhibit 1. Which of the following statements is (are) correct? Exhibit 1 Production Possibilities Trucks Cars 1,000 0 800 1,600 500 2,700 0 3,500 x The opportunity cost of the first 500 trucks is...

Answered: 1 week ago

Question

★★★★★
Special Order Total cost data follow for Greenfield Manufacturing Company, which has a normal capacity per period of 20,000 units of product that sell for $54 each. For the foreseeable future,...

Answered: 1 week ago

Question

★★★★★
Sasha Verbitsky Corporation has outstanding 1,000 $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bonds are converted on December 31, 2008, when the unamortized...

Answered: 1 week ago

Question

★★★★★
On January 1, 2008 (the date of grant), Lee Corporation issues 2,000 shares of restricted stock to its executives. The fair value of these shares is $90,000, and their par value is $10,000. The stock...

Answered: 1 week ago

Question

★★★★★
Sam Perkins, Inc. established a stock appreciation rights (SAR) program on January 1, 2007, which entitles executives to receive cash at the date of exercise for the difference between the market...

Answered: 1 week ago

Previous Question Next Question