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Marigold Corp. will receive $720000 in a future year. If the future receipt is discounted at an interest rate of 9%, its present value is $429314. In how many years is the $720000 received? O 7 years 5 years O 6 years O 8 years

Marigold Corp. will receive $720000 in a future year. If the future receipt is discounted at an interest rate of 9%, its present value is $429314. In how many years is the $720000 received? O 7 years 5 years O 6 years O 8 years

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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* Your answer is incorrect. Marigold Corp. will receive $720000 in a future year. If the future receipt is discounted at an interest rate of 9%, its present value is $429314. In how many years is the $720000 received? O 7 years O 5 years O 6 years O 8 years
Transcribed Image Text:* Your answer is incorrect. Marigold Corp. will receive $720000 in a future year. If the future receipt is discounted at an interest rate of 9%, its present value is $429314. In how many years is the $720000 received? O 7 years O 5 years O 6 years O 8 years
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