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Advanced Financial Algebra
Present and Future Value — Quiz
Question 8
8
Quiz
Multiple Choice
Present and Future Value — Quiz
Question 8 • Advanced Financial Algebra
An investor wants to know the present value of an investment that will be worth $15,000 in 7 years. The interest rate offered is 3.8% compounded monthly. What is the present value? Use PV=(FV)/((1+(r)/(n))^n⋅t)
Answer
A
15 dollars comma 000 point 0 0
B
11 dollars comma 553 point 4 0
C
11 dollars comma 501 point 4 2
D
11 dollars comma 505 point 4 8
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