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Eli has invested in a business that will pay him $500 in 3 years, $700 in 5 years and $1,000 in 9 years. If the
Eli has invested in a business that will pay him $500 in 3 years, $700 in 5 years and $1,000 in 9 years. If the opportunity rate is 6%, what is the present value of this investment? Round your answer to the nearest dollar.
Select one:
a. $1,870
b. $2,200
c. $1,535
d. $1,650
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