Find the present value of $450 due in the future under each of the following conditions Do not round intermediate calculations Round your answers to the nearest cent 12 nominal rate, semiannual compounding, discounted back 5 years 12 nominal rate, quarterly compounding, discounted back 5 years 12 nominal rate, monthly compounding, discounted back 1 year

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 21, 2024

Find the present value of $450 due in the future under each of the following conditions. Do not round intermediate calculations. Round your answers to

Find the present value of $450 due in the future under each of the following conditions. Do not round intermediate calculations. Round your answers to the nearest cent.

12% nominal rate, semiannual compounding, discounted back 5 years.

12% nominal rate, quarterly compounding, discounted back 5 years.

12% nominal rate, monthly compounding, discounted back 1 year.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Financial Institutions Management A Risk Management Approach

Authors: Marcia Cornett, Patricia McGraw, Anthony Saunders

8th edition

978-0078034800, 78034809, 978-0071051590

More Books

Students also viewed these Finance questions

Question

Q5- At the end of each year, ABC Company pays 12,000 rent for a machine under as year lease agreement. The car fair value is 150,000 and the car useful life is 10 years Prepare the transaction at the...

Answered: 1 week ago

Question

Bob has 59865 in student loans to repay, starting a year from now. The loan interest rate is 5.5%. If he repays $1235 annually at the end of each year, how long will it be before the loan to paid off...

Answered: 1 week ago

Question

Bob has 57773 in student loans to repay, starting a year from now. The loan interest rate is 4.5%. If he repays $1425 annually at the end of each year, tvow long will it be before the loan to paid...

Answered: 1 week ago

Question

Have leadership scholars, over the past 50 years, managed to produce a clear, cookie-cutter profile of the ideal leader through more than 1,000 studies

Answered: 1 week ago

Question

★★★★★

This case demonstrates how using a test after a pool of candidates has already been interviewed can present some difficulties. (For the case, go to www.cengage.com/management/mathis or visit the...

Answered: 1 week ago

Question

★★★★★

Provide an example of how IoT adoption could contribute to an increase in Customer Equity.

Answered: 1 week ago

Question

★★★★★

What counts most in explaining work-related outcomes, objective or subjective worker characteristics? Think of a concrete example when formulating your answer, for instance by focusing on predicting...

Answered: 1 week ago

Question

★★★★★

Krisch Enterprises Inc. produces aeronautical navigation equipment. The stockholders' equity accounts of Krisch Enterprises Inc., with balances on January 1, 2010, are as follows: The following...

Answered: 1 week ago

Question

★★★★★

Morganton Company makes one product and it provided the following information to help prepare the master budget: a. The budgeted selling price per unit is $70. Budgeted unit sales for June, July,...

Answered: 1 week ago

Question

★★★★★

ALIGNING SENIOR TEAMS AT VAYCOT PRODUCTS i need the answer in the following format introduction background alternatives praposed solution recommendations ALIGNING SENIOR TEAMS AT VAYCOT PRODUCTS...

Answered: 1 week ago

Question

★★★★★

Describe how the concepts of touchpoints and the tasks in the job - mapping process are applied in customer experience management. b ) Explain how the total customer experience is an integral part of...

Answered: 1 week ago

Question

★★★★★

A standard model of what Information Technology does looks like the following:: Input - Processing - Output Now consider the US census. Data is the "Input", the computer systems of the Census Office...

Answered: 1 week ago

Question

★★★★★

The accounting department of a large limousine company is analyzing the costs of its services. The cost data and level of activity for the past 16 months follow. Special Customer Paychecks Analyses...

Answered: 1 week ago

Question

★★★★★

2. The table below provides you with the 'Inventory turnover ratio' and 'receivable turnover ratio' of two auto-parts manufacturing firms (Firm A and Firm B). Also provided is the average values of...

Answered: 1 week ago

Question

★★★★★

Grandfield College. The law requires that any business, including a school, track its software. It is important to know what software the school owns, in what versions, and what the license agreement...

Answered: 1 week ago

Question

★★★★★

True or False Questions (ALERT!!) 1. A stock with a low standard deviation always contributes less to portfolio risk than a stock with a higher standard deviation. 2. According to MM model, in a...

Answered: 1 week ago

Question

★★★★★

Find a least expensive route, in monthly lease charges, between the pairs of computer centers in Exercise 11 using the lease charges given in Figure 2. a) Boston and Los Angeles b) New York and San...

Answered: 1 week ago

Question

★★★★★

5. Cite the costs and benefits of holding inventories and cash balances.

Answered: 1 week ago

Question

★★★★★

7. Float. Most banks now allow you to pay your bills over the Internet. You log on to your account to tell the bank which payments it should send out on your behalf. Whereas most banks charge you for...

Answered: 1 week ago

Question

★★★★★

6. Compare the different techniques that firms use to make and receive payments.

Answered: 1 week ago

Previous Question Next Question