Which of these is not one of the basic functions of the management process?
1 answer:
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Answer:
$788.35
Explanation:
In this question, we use the present value formula which is shown in the spreadsheet.
The NPER represents the time period.
Given that,
Future value = $1,000
Rate of interest = 14% ÷ 4 quarters = 3.5%
NPER = 4 × 4 quarter = 16 years
PMT = $1,000 × 7% ÷ 4 quarters = $17.50
The formula is shown below:
= PV(Rate;NPER;PMT;FV;type)
So, after solving this, the answer would be $788.35
