Based on a 365-day year, what is the present value of $2069 to be received 946...
Based on a 365-day year, what is the present value of $2069 to be received 946 days from today if the required return is 10.5% APY? (Rounded to the nearest cent.)
Homework Answers
PV = FV / [1 + r]n
= $2,016 / [1 + 0.105](946/365)
= $2,016 / 1.2953 = $1,556.34
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