Present value is
A) the value of a future amount expressed in today's dollars.
B) the value of a dollar received a year from now, expressed in terms of its future value.
C) the inverse of the interest rate.
D) the nominal value instead of the real value of something.
Ans: A) the value of a future amount expressed in today's dollars.
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Which of the following is true?
a. Real federal spending per person was approximately 50 times higher in 1900 than 1800. b. Real federal spending per person grew more rapidly during the 19th century than during the 20th century. c. Real federal spending per person was approximately 60 times greater in 1990 than in 1916. d. Real federal spending per person has decreased significantly since 1964.
Assume that the marginal tax rate is 10 percent for the first $10,000 of income, 20 percent for income between $10,000 and $40,000, and 30 percent for any income over $40,000. If Jerome has taxable income equal to $60,000 for the year, what is his tax bill?
A. $6,000. B. $13,000. C. $18,000. D. $15,000.