Bonita Industries will receive $400000 in a future year. If the future receipt is discounted...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Bonita Industries will receive $400000 in a future year. If the future receipt is discounted at an interest rate of 7%, its present value is $285196. In how many years is the $400000 received?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
