Asked by Tempest Hansen on Jun 03, 2024
Verified
What is the present value of $1,000 received 3 years from now if the interest rate is 6%?
Present Value
The current value of a future sum of money or stream of cash flows given a specified rate of return.
Interest Rate
The percentage of a loan charged to the borrower as interest, usually presented as an annual rate of the remaining loan balance.
- Learn the basics of present value and how it is calculated.
Verified Answer
CM
Learning Objectives
- Learn the basics of present value and how it is calculated.