What Is the Present Value of $1,000 to Be Received

question 53

Multiple Choice

What is the present value of $1,000 to be received 10 years from today? Assume that the investment pays 8.5% and it is compounded monthly (round to the nearest $1) .

• A) $893
• B) $3,106
• C) $429
• D) $833

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Envelope

A flat, typically rectangular container made of paper or another material, designed to enclose a letter or document.

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A document created by a person to present their background, skills, and accomplishments for securing new employment.

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An individual responsible for organizing and managing various tasks and activities to ensure they are completed efficiently.

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