Iris is discounting the amount of $10,000 that she wants in 3 years to find the one lump-sum amount that she needs to invest today in an account with 7.8% annual interest rate. Which formula below should she apply to calculate the deposit amount that is needed today? PV = 10,000 - (1+.078)³ PV = 10,000/(1+.078)³ PV = 10,000+ (1+.078)³ PV = 10,000+.078) PV = 10,000*(1+.078)³

Iris is discounting the amount of $10,000 that she wants in 3 years to find the one lump-sum amount that she needs to invest today in an account with 7.8% annual interest rate. Which formula below should she apply to calculate the deposit amount that is needed today? PV = 10,000 - (1+.078)³ PV = 10,000/(1+.078)³ PV = 10,000+ (1+.078)³ PV = 10,000+.078) PV = 10,000*(1+.078)³

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 4MC: Refer to the present value table information on the previous page. What amount should Brett have in...

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Please solve both parts ,will upvote
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