C: 7/8
Explanation: Since we want a number that makes 4p less than 4, we need to find a number for p that is less than 1. By looking at each fraction, only 7/8 will render it less than 4
The exact answer is
but if you round it up it will equal
Answer:
3rd choice
Step-by-step explanation:
the 3rd choice is the same as all of the others just in fraction form .you need to keep fraction form for the statement to still be true
To calculate the present value we shall proceed as follows:
from the present value table, the percentage corresponding to discount factor of 0.7008 in 5 years is 7%
therefore using the formula:
FV=PV(1+r/100)^n
where:
FV=$1000
PV=?
r=7%
hence:
1000=PV(1+7/100)^5
PV=1000/(1+7/100)^5
PV=712.986
