Question
Present value of amounts due Assume that you are going to receive $370,000 in 10 years. The current market rate of interest is 4.5%, compounded
Present value of amounts due
Assume that you are going to receive $370,000 in 10 years. The current market rate of interest is 4.5%, compounded annually.
a.Using the present value of $1 table inExhibit 5, determine the present value of this amount compounded annually. Round to the nearest whole dollar.
$_________
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Financial And Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
14th Edition
1337119202, 978-1337119207
