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What is the present worth of a sum of $8000 due in 2 years if the banker's disco

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Question: What is the present worth of a sum of $8000 due in 2 years if the banker\'s discount is $640 at 8% per annum?

Options:

  1. $7200
  2. $7600
  3. $8000
  4. $8400

Correct Answer: $7200

Solution: 

Banker\'s Discount = P × R × T / 100. 640 = P × 8 × 2 / 100. P = $7200.

What is the present worth of a sum of $8000 due in 2 years if the banker's disco

Practice Questions

Q1
What is the present worth of a sum of $8000 due in 2 years if the banker's discount is $640 at 8% per annum?
  1. $7200
  2. $7600
  3. $8000
  4. $8400

Questions & Step-by-Step Solutions

What is the present worth of a sum of $8000 due in 2 years if the banker's discount is $640 at 8% per annum?
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