* 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 yearsO 5 yearsO 6 yearsO 8 years

The nominal future sum of money that a given sum of money is "worth" at a certain time in the…

Answered: Marigold Corp. will receive $720000 in…

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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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