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I have the question and the answer here and i want to know how they get the 1.07 as i was given this formula: PV= 1/(1+R)n imagine r=7% and n=3 years invest on the 1st year = 700, 2nd=1000 and 3rd=300 Using the formula [700/1.07] + [1000/(1.07x1.07)] + [300/(1.07x1.07x1.07)] = 1772.54 Where...

I have the question and the answer here and i want to know how they get the 1.07 as i was given this formula: PV= 1/(1+R)n imagine r=7% and n=3 years invest on the 1st year = 700, 2nd=1000 and 3rd=300 Using the formula [700/1.07] + [1000/(1.07x1.07)] + [300/(1.07x1.07x1.07)] = 1772.54 Where...