Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The present value factor at 8% for one period is 0.92593 , for two periods is 0.85734 for three periods is a .79383, for four
The present value factor at 8% for one period is 0.92593 , for two periods is 0.85734 for three periods is a .79383, for four periods is a 73503 and for five periods is 0.68058 . Given these factors, what amount should be deposited in a bank today to grow to $100 three years from now? $100/0.79383 $100/(0.92593/3) ($100/0.92593+$100/0.85734+$100/0.79383) $1000.79383
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