Financial Accounting, 10e WileyPLUS (next generation) + Loose-leaf
Financial Accounting, 10e WileyPLUS (next generation) + Loose-leaf
10th Edition
ISBN: 9781119491637
Author: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Publisher: Wiley (WileyPLUS Products)
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Chapter G, Problem 19BE
To determine

Present Value: The value of today’s amount expected to be paid or received in the future at a compound interest rate is called as present value. The present value of an amount is calculated by using the following formula:

Present value of an amount = Future value(1 + interest rate)numberofperiods

To Calculate: The annual interest rate on her investment.

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