Need math help to Find the present value of #6

Mathematics
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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.
Nov 9th, 2015

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.

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Nov 9th, 2015

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