The future worth 5 years from now of a present cost of $280,000 at an interest rate of 1.0% per month is closest to which of the following? O a) $569,098 O b) $508,675 Oc) $557,235 O d) $549.094 O e) $545,585

The future worth 5 years from now of a present cost of $280,000 at an interest rate of 1.0% per month is closest to which of the following? O a) $569,098 O b) $508,675 Oc) $557,235 O d) $549.094 O e) $545,585

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 15PROB

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Solve it correctly please. Typed answer needed. I

The future worth 5 years from now of a present cost of $280,000 at an interest rate
of 1.0% per month is closest to which of the following?
a) $569,098
b) $508,675
O c) $557,235
O d) $549.094
Oe) $545,585

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