Suppose you were to receive $1,000 at the end of 10 years. If your opportunity rate is 10 percent, what is the present value of this amount if interest is compounded (a) annually? (b) quarterly?
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Answer:
a) 1000*10/100=100+1000=11000
b) 1000*(10*12/100)=1000*12=12000
Explanation:
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