Question
You have just purchased an investment that generates the following cash flows for the next four years. You are able to reinvest these cash flows
You have just purchased an investment that generates the following cash flows for the next four years. You are able to reinvest these cash flows at 9.4 percent, compounded annually.
End of year
1.$951
2.$1,621
3.$1,920
4.$1,874
What is the present value of this investment if 9.4 percent per year is the appropriate discount rate?
Round the answer to two decimal places.
Your Answer:
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Bank Management
Authors: Timothy W. Koch, S. Scott MacDonald
8th edition
1133494684, 978-1305177239, 1305177231, 978-1133494683
