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Need to correct answer for these question, thank you What's the present value of the $1,000 due in 15 years (FV=$1,000) ? We assume current
Need to correct answer for these question, thank you
What's the present value of the $1,000 due in 15 years (FV=$1,000) ? We assume current interest rate is 8%, compounded monthly $315.2 $302.4 $309.2 $322.6 Which of the following statements is NOT correct? Finding present values is discounting and it is the reverse of compounding. Finding future values is compounding and it is the reverse of discounting. When we solve for the interest rate i, we need to input PV and FV with the same sign (both positive or both negative) for the calculations. If we know the values of any three variables among four variables (N, FV, i, FV) related to the time value of money, we can find the value of the 4th variable. At 7.2% compounded annually, how long will it take $1,000 to triple its value? 12.6 years 13.8 years 15.8 years 16.2 yearsStep by Step Solution
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