Need math help to Find the present value of #6

User Generated

zrrxn76

Mathematics

Description

Find the present value of $40,000 due in 4 years at the given rate of interest 8%/year compounded monthly.
A.
B.
C.
D.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Thank you for the opportunity to help you with your question!

40000 = PV [1+(0.08/12)]^48

PV = 40000/[1+(0.08/12)]^48

PV = $29,076.82.

Please let me know if you need any clarification. I'm always happy to answer your questions.


Anonymous
Great content here. Definitely a returning customer.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags