Question
Swifty Corporation will receive $600000 in a future year. If the future receipt is discounted at an interest rate of 12%, its present value is
Swifty Corporation will receive $600000 in a future year. If the future receipt is discounted at an interest rate of 12%, its present value is $216366.
In how many years is the $600000 received?
| 10 years |
|
| 8 years |
|
| 7 years |
|
| 9 years |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Modeling And Designing Accounting Systems Using Access To Build A Database
Authors: Laura R. Ingraham, C. Janie Chang
1st Edition
0471450871, 978-0471450870
