Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If you are going to receive $ 2 , 0 0 0 in six years from now, how much is that worth today, assuming 5

If you are going to receive $2,000 in six years from now, how much is that worth today, assuming 5% annual
simple interest?
$2,600.00
$1,538.46
$1,904.76
$1,780.32

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Finance And Economics Readings Selected Papers From Asia Pacific Conference On Economics And Finance 2017

Authors: Lee-Ming Tan , Evan Lau Poh Hock, Chor Foon Tang

1st Edition

9811081468,9811081476

More Books

Students also viewed these Finance questions

Question

10. What was the most difficult aspect of your past job?

Answered: 1 week ago