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the answer is B but for some reason when I enter it in my calculator (baII plus). I keep getting 48,529.51. Im using N=3, I/Y=12,
the answer is B but for some reason when I enter it in my calculator (baII plus). I keep getting 48,529.51. Im using N=3, I/Y=12, PMT=0, FV=50000, solve for PV. what am I doing wrong ?
You are offered a contract for a lump sum payment in the amount of $50,000 to be paid 3 years from now. You want to know how much to pay today for the promise of money in the future, if a 12% annual return on investment is expected. What is the promise of future payment worth today? A $70,246.40 B. $35,589.01 C. $120,091.56 D. $48,529.51 Step by Step Solution
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