CFA Level 1 Exam

3959 Questions

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Question No. 1

After a sterling year, your boss has decided to reward you. She has offered you three alternatives:

Take $28,000 right now.
Take $2,500 bonus per month for the next 12 months, starting next month.
Take $16,000 at the end of six months and another $15,000 at the end of the year.
If your discount rate is 6% per year on a monthly compounded basis, how much is the present value of your bonus?
Choose the correct option from the given list.
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