FUNCTIONS AND CHANGE COMBO
FUNCTIONS AND CHANGE COMBO
6th Edition
ISBN: 9781337801287
Author: Crauder
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter P, Problem 13E

Present Value Present value is the amount of money that must be invested now at a given rate of interest to produce a given future value. For a one-year investment, the present value can be determined using

P r e s e n t   V a l u e = F u t u r e   V a l u e 1 + r ,

Where r is the yearly interest rate expressed as a decimal. (Thus, if yearly interest rate is 8 % , then 1 + r = 1.08 .) If an investment yields an yearly interest rate of 12 % is available, what is the present value of an investment that will be worth $ 5000 at the end of 1 year? That is, how much must be invested today at 12 % in order for the investment to have a value of $ 5000 at the end of a year?

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Chapter P Solutions

FUNCTIONS AND CHANGE COMBO

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