Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:G the year payment 1000 if the dis
The furniture store offers you no-money-down on a new set of living room furniture. Further, you may pay for
the furniture in three equal annual end-of-the-year payments of $1,000 each with the first payment to be
made one year from today. If the discount rate is 6%, what is the present value of the furniture payments?
5/15 Qs
ice:
183.60
000.00
833.39
673.01
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