Present value is the value in today's dollars of funds to be paid or received in the future. If the current interest rate is 8%, then the present value of $1,000 to be received in 7 years is S(Enter your response rounded to two decoimal places)

Present value is the value in today's dollars of funds to be paid or received in the future. If the current interest rate is 8%, then the present value of $1,000 to be received in 7 years is S(Enter your response rounded to two decoimal places)

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: The Basic Tools Of Finance

Section9.1: Present Value: Measuring The Time Value Of Money

Problem 1QQ

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Present value is the value in today's dollars of funds to be paid or recelived in the future.
If the current interest rate is 8%, then the present value of $1,000 to be received in7 years is $ (Enter your response rounded to two decimal
places.)

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