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What Is the Present Value of an Investment of $1000

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Short Answer

What is the present value of an investment of $1000 payable at the end of 10 years at a 9% rate of interest compounded continuously? Enter your answer in dollars to two decimal places (no symbols or words).


Definitions:

Journal Entries

Records that capture all the financial transactions of a company, each consisting of at least one debit and one credit.

Job Order Costing

A costing method that tracks costs individually for each job.

Raw Materials

The basic materials from which products are made, typically not yet processed or manufactured.

Factory Payroll

The total compensation paid to all employees working within a manufacturing plant or factory.

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