Future receipt discounted at interest rate


Swanson Company will receive $100,000 in a future year. If the future receipt is discounted at an interest rate of 8%, its present value is $63,017. In how many years is the $100,000 received?

1. 5 years

2. 6 years

3. 7 years

4.  8 years

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Accounting Basics: Future receipt discounted at interest rate
Reference No:- TGS080031

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