8. Which of the following is the correct expression for finding the present value of a $500 payment two years from today if the interest rate is 4 percent? a. $500/(1.04)2 b. $500 – 500(1.04)2 c. $500 – $500/(.04)2 d. None of the choices apply.

8. Which of the following is the correct expression for finding the present value of a $500 payment two years from today if the interest rate is 4 percent?
a. $500/(1.04)2
b. $500 – 500(1.04)2
c. $500 – $500/(.04)2
d. None of the choices apply.

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