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What is the amount of initial cash investment made by props

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Reference no: EM132775748

Three years ago, Props Inc. made an investment that earned 10%, the current value of which is $15,000. The following is the present value of $1.00 discounted at a 10% interest rate:

Periods      Present Value of $1.00 Discounted at 10%
1               .909
2                .826
3                .751

Problem 1: What is the amount of initial cash investment made by Props Inc. three years ago?

A. $13,365

B. $11,265

C. $12,390

D. $19,973

Reference no: EM132775748

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