The Solution to This Problem Requires Time Value of Money

question 28

Multiple Choice

The solution to this problem requires time value of money calculations.Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations.
If the interest factor used to calculate the future value of $1 at 6% for 5 periods is 1.338, then the present value of $1 at 6% for 5 periods is

• A)1.338 × 1.338.
• B)1/1.338.
• C)1/1.338 × 1.338).
• D)0.338.

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