What is the present value (PV) of an investment that pays $90,000 every year for four years if the interest rate is 9% APR, compounded quarterly?

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 7PROB
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What is the present value (PV) of an investment that pays $90,000 every year for four years if the interest rate is 9% APR, compounded quarterly?
O A. $347,535
B. $318,574
OC. $376,496
O D. $289,613
Transcribed Image Text:What is the present value (PV) of an investment that pays $90,000 every year for four years if the interest rate is 9% APR, compounded quarterly? O A. $347,535 B. $318,574 OC. $376,496 O D. $289,613
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