An investment pays Rs.300 annually for five years, with the first payment occurring
today. The present value of the investment discounted at a 4% annual rate is
approximately __________.
a) Rs.1336
b) Rs.1389
c) Rs.1625
d) Rs.1925
today. The present value of the investment discounted at a 4% annual rate is
approximately __________.
a) Rs.1336
b) Rs.1389
c) Rs.1625
d) Rs.1925