Microeconomics (with Digital Assets, 2 terms (12 months) Printed Access Card) (MindTap Course List)
12th Edition
ISBN: 9781285738352
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 16, Problem 1VQP
To determine
Explain the present value of dollar amount.
Expert Solution & Answer
Explanation of Solution
Then, the present value of dollar amount is $ 907.03.
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Students have asked these similar questions
You expect to receive $10,000 at graduation in two years. You plan on investing it at 9 percent until you have $60,000. How long will you wait from now?
Angela puts $5,000 in a savings account that pays 5 percent per year.
The future value of her money one year from now is $
As the interest rate
(Enter your response as a whole number.)
the future value of Angela's $5,000 savings will increase.
Write the net present or future worth expression?
Chapter 16 Solutions
Microeconomics (with Digital Assets, 2 terms (12 months) Printed Access Card) (MindTap Course List)
Ch. 16.1 - Prob. 1STCh. 16.1 - Prob. 2STCh. 16.1 - Prob. 3STCh. 16.1 - Prob. 4STCh. 16.2 - Prob. 1STCh. 16.2 - Prob. 2STCh. 16.2 - Prob. 3STCh. 16.4 - Prob. 1STCh. 16.4 - Prob. 2STCh. 16.4 - Prob. 3ST
Ch. 16.4 - Prob. 4STCh. 16 - Prob. 1VQPCh. 16 - Prob. 2VQPCh. 16 - Prob. 3VQPCh. 16 - Prob. 4VQPCh. 16 - Prob. 5VQPCh. 16 - Prob. 1QPCh. 16 - Prob. 2QPCh. 16 - Prob. 3QPCh. 16 - Prob. 4QPCh. 16 - Prob. 5QPCh. 16 - Prob. 6QPCh. 16 - Prob. 7QPCh. 16 - Prob. 8QPCh. 16 - Prob. 9QPCh. 16 - Prob. 10QPCh. 16 - Prob. 11QPCh. 16 - Prob. 12QPCh. 16 - Prob. 13QPCh. 16 - Prob. 14QPCh. 16 - Prob. 15QPCh. 16 - Prob. 16QPCh. 16 - Prob. 17QPCh. 16 - Prob. 1WNGCh. 16 - Prob. 2WNGCh. 16 - Prob. 3WNG
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