Question
I am having a hard time solving this 2 questions. 1. A debt of $4719.64 is due December 1, 2023. What is the value of
I am having a hard time solving this 2 questions.
1. A debt of $4719.64 is due December 1, 2023. What is the value of the obligation on December 1, 2016 ,if money is worth 3% compounded annually?
The value of the obligation is $?
rounded to nearest cent as needed.
2. For a sum of money invested at 6.9% compounded semi- annually for 5 years state the following:
a) the number of compounding periods
b) periodic rate of interest ( round to six decima places as needed)
c) tthe compounding factor is ( 1+ x) '
d) the numerical value of the compounding factor is " ?
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