jenniferalvarez360
15.04.2020 •
Business
The Sanchez Company purchased a delivery truck on February 1, 2018. The purchase agreement required Sanchez to pay the total amount due of $15,000 on February 1, 2019. Assuming an 8% rate of interest, the calculation of the price of the truck would involve multiplying $15,000 by the:
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Ответ:
Present value of $1
Explanation:
In this question, we are asked to give the value by which the amount due on a truck is to be multiplied given the interest rate.
From the question, we can identify that $15,000 is the future value of the truck.Now, we are tasked with calculating the present value of the truck.
In order to obtain the present value, the $15,000, which is the present value will have to be multiplied by the present value of $1 for an interest rate i of 8% and a time of year n = 1( considering the time between February 1 2018 and February 1, 2019)
Ответ: