To Find the Present Value of $1000 Discounted for 20

question 46

Multiple Choice

To find the present value of $1000 discounted for 20 years at 8%, when using a financial calculator, the correct entry is

• A) N=20, i=.08,PMT=0, FV=1000 solve for PV.
• B) N=20, i=8,PMT=0, FV=1000 solve for PMT.
• C) N=20, i=.08,PMT=0, PV=1000 solve for FV.
• D) N=20, i=8,PMT=0, FV=1000 solve for PV.

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Definitions:

Append

The process of adding new data to the end of an existing set of data or document.

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A data type used in database fields designed to hold alphanumeric characters, generally limited to a specified number of characters.

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The unnecessary repetition of data within a database, which can lead to inconsistencies and increased storage.