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wolverine [178]
3 years ago
5

What is the approximate present value of $1 that will be paid to you in 3 years if the interest rate were 5 percent?

Business
1 answer:
Stolb23 [73]3 years ago
3 0

Answer:

The present value is $0.86.-

Explanation:

Giving the following information:

Future Value (FV)= $1

Number of periods (n)= 3 years

Interest rate (i)= 5% = 0.05

<u>To calculate the present value (PV), we need to use the following formula:</u>

PV= FV/(1+i)^n

PV= 1/(1.05^3)

PV= $0.8634

The present value is $0.86.-

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Based on the useful life and the appraised age of the house, the effective age is <u>3 years.</u>

<h3>What is the effective age?</h3>
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As a result of the physical condition and upkeep of the property, the appraiser estimates it to be equivalent to a 3 year old home. This is therefore the effective age.

Find out more on appraisals at brainly.com/question/15032807.

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Answer:

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Explanation:

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A $200 petty cash fund has cash of $20 and receipts of $177. The journal entry to replenish the account would include a credit t
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