Question

Mike Derr Company expects to earn 10% per year on an investment that will pay $616,000 eight years from now. (PV of $1, FV of

0 1
Add a comment Improve this question Transcribed image text
Answer #1

Explanation- Present value of investment= Future value * p(PV of a single amount)

= $616000*0.4665

= $287364

Where = In PV of $1, where n= 8

i= 10%

p =0.4665

Add a comment
Know the answer?
Add Answer to:
Mike Derr Company expects to earn 10% per year on an investment that will pay $616,000...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT