题目
Given the following timeline and a discount rate of 4% a year compounded annually, the present value (PV), as of the end of Year 5 (PV5 ), of the cash flow received at the end of Year 20 is closest to:「huixue_img/importSubject/1564548692457951232.png」
选项
A.$22,819.
B.$27,763.
C.$28,873.
答案
B
解析
B is correct. The PV in Year 5 of a $50,000 lump sum paid in Year 20 is $27,763.23 (where FV is future value):「huixue_img/importSubject/1564548692533448704.png」 B正确。 在END模式下，FV=50,000，N=15，I/Y=4，PMT=0，CPT PV= -27,763.23