Find the Present Value of $90,000 Due in 7 Years

question 274

Multiple Choice

Find the present value of $90,000 due in 7 years, given an annual rate of 5% compounded monthly. Round tour answer to the nearest cent.

• A)$63,468.26
• B)$63,468.06
• C)$63,167.41
• D)$63,568.46
• E)$63,368.06

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity demanded for it at various prices.

Perfectly Elastic

A state of demand or supply in which the quantity demanded or supplied changes infinitely with any change in price.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that suppliers are willing to produce and sell.

Efficient Output

The maximization of output using the least amount of inputs or resources.