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What would be the present value of $500 for me received two years from today
What would be the present value of $500 for me received two years from today. Assume that the interest rate is 15%.
Question 27 options:
Close to $721
$407.36
Close to $378
Exactly $254.98
Expert Solution
Computation of Present Value:
Present Value = Future Value/(1+r)^Time
= $500/(1+15%)^2
Present Value = $378.07 or $378
The correct option is 3rd "close to $378".
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