Suppose you have the alternative of receiving either 24 000 at the end of seven...
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Suppose you have the alternative of receiving either 24 000 at the end of seven years or P dollars today Currently have no need for money so you could deposit the P dollars in a bank that pays 3 interest What value of P would make you indifferent in your choice between P dollars today and the promise of 24 000 at the end of seven years Click the icon to view the interest factors for discrete compounding when i 3 per year The value of P that would make you indifferent in your choice is Round to the nearest dollar
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