Bha Your best friend has written you an IOU for last nights bar tab agreeing to pay you $800 at the end of6 years at the same interest rate you now earn on your savings account. You currently are earning 7%interest compounded annually. What was your friends bar tab?O $33.36O $333.60O $532.80O $833.36You are going to send your friend to Alcoholics Anonymous

Present value is the equivalent value of money today required that is required in the future based…

Your best friend has written you an IOU for last nights bar tab agree 6 years at the same interest rate you now earn on your savings account. You currently are ea interest compounded annually. What was your friends bar tab? $33.36 $333.60 O $532.80 O $833.36 Glad to Alcoholics Anonymous

Your best friend has written you an IOU for last nights bar tab agree 6 years at the same interest rate you now earn on your savings account. You currently are ea interest compounded annually. What was your friends bar tab? $33.36 $333.60 O $532.80 O $833.36 Glad to Alcoholics Anonymous

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 28P

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Bha

Your best friend has written you an IOU for last nights bar tab agreeing to pay you $800 at the end of
6 years at the same interest rate you now earn on your savings account. You currently are earning 7%
interest compounded annually. What was your friends bar tab?
O $33.36
O $333.60
O $532.80
O $833.36
You are going to send your friend to Alcoholics Anonymous

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