The present value of $100 in one year is $86.96 when the interest rate is 15%.

Name: The present value of $100 in one year is $86.96 when the interest rate is 15%.
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Quizplus · Accepted Answer

The present value (PV) is calculated using the formula PV = FV / (1 + r)^n, where FV is the future value, r is the interest rate, and n is the number of periods. For $100 in one year at 15%, PV = 100 / (1 + 0.15)^1 = $86.96.

The Present Value of $100 in One Year Is $86