FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An investment earns 0.04% per week and is worth $16,000 after 17 weeks. Determine the following values, given that present value for simple interest is

image text in transcribed

An investment earns 0.04% per week and is worth $16,000 after 17 weeks. Determine the following values, given that present value for simple interest is given by PV=1+inFV, where PV and FV are measured in dollars and time is measured in weeks. FVin=== Find the present value PV of the given investment (in dollars). (Round your answer to the nearest cent.) PV=$

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Complete Guide To Real Estate Finance For Investment Properties

The Complete Guide To Real Estate Finance For Investment Properties

Authors: Steve Berges

1st Edition

0471647128, 978-0471647126

More Books

Students also viewed these Finance questions

Question

★★★★★
A steam generator produces superheated steam at a rate of 140 kg/min, a temperature of 500 C, and a pressure of 5 MPa. What is the maximum amount of power that could be obtained using this steam? Use...

Answered: 1 week ago

Question

★★★★★
Government survey takers determine that typical family expenditures each month in the year designated as the base year are as follows: 25 pizzas at $10 each Apartment rent, $600 per month Gasoline...

Answered: 1 week ago

Question

★★★★★
Refer to the Minerals Engineering (Vol. 46-47, 2013) study of the impact of calcium and gypsum on the flotation properties of silica in water, Exercise 2.48 (p. 53). The zeta potential (mV) was...

Answered: 1 week ago

Question

★★★★★
Macgregor Company completed its first year of operations on December 31, 2014. Its initial income statement showed that Macgregor had revenues of $192,000 and operating expenses of $78,000. Accounts...

Answered: 1 week ago

Question

★★★★★
An investment earns 0.04% per week and is worth $16,000 after 17 weeks. Determine the following values, given that present value for simple interest is given by PV=1+inFV, where PV and FV are...

Answered: 1 week ago

Question

★★★★★
1.You are bullish about Bulls Eye stock. The current price is $25 per share and you have $5000 of your own to invest. You borrow an additional $5,000 from your broker at an interest rate of 8% per...

Answered: 1 week ago

Question

★★★★★
Beginning inventory is $ 2 1 0 , 0 0 0 , purchases are $ 2 5 5 , 0 0 0 and sales total $ 4 2 0 , 0 0 0 . The normal gross profit percentage is 4 0 % . Estimate ending inventory using the gross profit...

Answered: 1 week ago

Question

★★★★★
Question 2 (2 points) Saved What is the purpose of a speech that invites audience members to do something they have not done before? A) discontinuance B) adoption C) continuance D) reinforcement B

Answered: 1 week ago

Question

★★★★★
Janet has applied for coverage under an assigned risk plan. Without knowing anything about Janet other than this fact, what can you conclude about her driving history? She may be snow

Answered: 1 week ago

Question

★★★★★
You must write a small application in JAVA that can assist a shopper by calculating the total price of the items that he or she wants to buy and displaying a tillslip-like list of the products, their...

Answered: 1 week ago

Question

★★★★★
Is the pow function overloaded? How do you know? How many arguments does the pow function require?

Answered: 1 week ago

Question

★★★★★
Demonstrate three aspects of assessing group performance?

Answered: 1 week ago

Question

★★★★★
B What practical and logistical benefits does hiring members of the community offer CeaseFire? Would Slutkin himself be able to identify and track down individuals who might seek retribution?

Answered: 1 week ago

Question

★★★★★
C What kinds of leadership skills are needed to change the culture of violence in these communities? Should the conflict interrupters employ the same kinds of leadership skills in dealing with the...

Answered: 1 week ago

Previous Question Next Question