Calculate the present value (PV) of an investment that will be worth $1,000 at the interest rate of 5% per year, compounded annually, after 10 years.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
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Financial Accounting Question please answer

Calculate the present value (PV) of an investment that will be
worth $1,000 at the interest rate of 5% per year, compounded
annually, after 10 years.
Transcribed Image Text:Calculate the present value (PV) of an investment that will be worth $1,000 at the interest rate of 5% per year, compounded annually, after 10 years.
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