You expect to receive a payment of $600 one year from now. Answer the following questions and show your calculations:
1 answer:
Answer:
Instructions are below.
Explanation:
Giving the following information:
You expect to receive a payment of $600 one year from now.
A) Discount rate= 6%
We need to use the following formula:
PV= FV/(1+i)^n
PV= 600 / (1.06)= $566.04
B) Discount rate= 7%
PV= 600 / (1.07)= $560.75
C) The future value of a certain cash flow declines when the interest rate (discount rate) increases or "n" (time) increases.
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