5th Edition

ISBN: 9780078025914

Author: Fred Phillips Associate Professor, Robert Libby, Patricia Libby

Publisher: McGraw-Hill Education

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Textbook Question

Chapter AC, Problem 8MC

Which of the following statements is true?

a. When the interest rate increases, the present value of a single amount decreases.
b. When the number of interest periods increases, the present value of a single amount increases.
c. When the interest rate increases, the present value of an annuity increases.
d. None of the above are true.

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Chapter AC, Problem 7MC

Chapter AC, Problem 9MC

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Chapter AC Solutions

Fundamentals of Financial Accounting

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Solution Summary: The author explains that when the interest rate increases, the present value of a single amount decreases. Option b is an incorrect answer.

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