Calculate the Present Value of an Investment That Will Be

question 41

Short Answer

Calculate the present value of an investment that will be worth $1,000 after 6 years at 4% per year compounded annually. Round your answer to the nearest cent.
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​P​ = __________

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Definitions:

Conformity

The practice of adjusting attitudes, beliefs, and behaviors to fit the norms or standards of a collective.

Mood Contagion

The phenomenon where an individual's emotions or moods are influenced by the emotions or moods of those around them.

Local Homeless Shelter

A facility used to provide temporary accommodation and sometimes other forms of support to individuals who are homeless in the local community.

Informational Social Influence

The process where individuals change their behavior to align with the group due to the belief that the group possesses more accurate information.