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What is the true discount on a sum of $10000 due in 10 years at 5% per annum?

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Question: What is the true discount on a sum of $10000 due in 10 years at 5% per annum?

Options:

  1. $2000
  2. $2500
  3. $3000
  4. $3500

Correct Answer: $2500

Solution: 

Present Worth = 10000 / (1 + 0.05*10) = 10000 / 1.5 = $6666.67. True Discount = 10000 - 6666.67 = $3333.33.

What is the true discount on a sum of $10000 due in 10 years at 5% per annum?

Practice Questions

Q1
What is the true discount on a sum of $10000 due in 10 years at 5% per annum?
  1. $2000
  2. $2500
  3. $3000
  4. $3500

Questions & Step-by-Step Solutions

What is the true discount on a sum of $10000 due in 10 years at 5% per annum?
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