You have decided to send a sum of money using a wire transfer which transferred the money immediately and costs Tk.50. You could transfer the money using a depository transfer cheque which would cost you only Tk.8 and would take 4 days to reach its destination bank. The opportunity cost at the destination bank is 14 percent per year. The amount of money that you have transferred is what?

Answer rating: 100% (QA)

To determine the amount of money transferred we need to calculate the present value of the di... View the full answer