You decide to do a five-year program where you get both a four-year degree and an MBA. After your first day of class today, your grandmother promises you $20,000 at the end of the five years. If the interest rate will be 2.1 percent over that period, what is the value of this promise now?

Answer rating: 100% (QA)

To calculate the present value of the promise we need to ... View the full answer