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Find the present value of a future value of $420 at 5.5% annual simple interest for 2 years? O a. $398.10 O b. $377.35 O C. $375.73 O d. $378.38

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Find the present value of a future value of $420 at 5.5%
annual simple interest for 2 years?
O a. $398.10
O b. $377.35
O c. $375.73
d. $378.38
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