Your parents have offered to give you $10,000 for each of the next 5 years. You feel
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Your parents have offered to give you $10,000 for each of the next 5 years. You feel like you could use that money now, so you wan to figure out how much it is worth today. If you think that the relevant interest rate is 5%, what is the present value of the 5 payments?
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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