Posted: January 14th, 2016
Which of the following is the correct expression for finding the present value of a $500 payment two years from today if the interest rate is 4 percent?
. Which of the following is the correct expression for finding the present value of a $500 payment two years from today if the interest rate is 4 percent?
- $500/(1.04)2
- $500 – 500(1.04)2
- $500 – $500/(.04)2
- None of the choices apply.
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