Exam FM Practice Question 1
Study guide: Exam FM-2
An investor will receive $1,000 in 3 years. Using an annual effective interest rate of 5%, what is the present value of this payment?
- A) 863.84
- B) 857.34
- C) 950.00
- D) 1,157.63
- E) 869.57
Answer this question and see the worked solution