Answer:
the present value is 3,162 euros
Step-by-step explanation:
The computation of the present value is shown below:
As we know that
Future value = Present value × (1 + rate of interest)^number of years
3,200 euros = Present value × (1 + 0.012)^1
3,200 euros = Present value × 1.012^1
Present value is
= 3,200 euros ÷ 1.012
= 3,162 euros
Hence, the present value is 3,162 euros
