What is the value today of receiving $3,000 at the end of each year for the...
What is the value today of receiving $3,000 at the end of each year for the next three years, assuming an interest rate of 3% compounded annually? (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $8,251. $9,000. $9,273. $8,486.
Homework Answers
Value = Amount x Cumulative present value @3%, 3 years
= $3,000*2.8286
= $8,486
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