brucewaynel6830 brucewaynel6830
  • 03-07-2021
  • Business
contestada

What is the present value of an investment that will pay $2,000 at the end of the year when interest is compounded annually at 5.10%

Respuesta :

andromache andromache
  • 04-07-2021

Answer:

the present value of an investment is $1,902.94

Explanation:

The computation of the present value of an investment is given below:

present value

= Future value ÷ (1 + rate of interest)^time period

=$2,000 ÷ (1+.051)^1

= $2,000 ÷ 1.051

= $1902.94

Hence, the present value of an investment is $1,902.94

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