SOLUTION: what is the present value of the item below? $800 to be received 10 years from now discounted back to the present at 10 percent

SOLUTION: what is the present value of the item below? $800 to be received 10 years from now discounted back to the present at 10 percent

Algebra.Com

Question 356815: what is the present value of the item below?
$800 to be received 10 years from now discounted back to the present at 10 percent
Answer by nyc_function(2741) (Show Source): You can put this solution on YOUR website!
Let P = present value of item

10 percent = 0.10

0.10P + 10 = 800

Solve for P.
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