Asked by j
Suppose your bank account will be worth $4,200.00 in one year. The interest rate (discount rate) that the bank pays is 5%. What is the present value of your bank account today?
Answers
Answered by
Student
$4,000.08
4,200 * .9524
= 4,000.08
4,200 * .9524
= 4,000.08
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