Marigold2337 Marigold2337

13-01-2021
Business

contestada

If the current market rate of interest is 8%, then the present value of this timeline is closest to:

Respuesta :

abiolataiwo2015 abiolataiwo2015

16-01-2021

Answer:

$857

Explanation:

Calculation for the present value

Using this formula

Present value = FV / (1+ r)^ n

Let plug in the formula

Present value= 1,000 / (1+.08)^2

Present value= 1,000 / (1.08)^2

Present value= 857.34

Present value=$857 (Approximately)

Therefore the Present value is $857

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