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

Question

1 Approved Answer

need help! On June 8,2023 the future value of a sum of money will be $70,300. What would be the present value of this sum

need help! image text in transcribed
On June 8,2023 the future value of a sum of money will be $70,300. What would be the present value of this sum of money on February 29,2020, if the interest rate is 3.57% compounded annually. (1year =365 days) Round the value for PV to two decimal places. P/Y= CY= DBD= days 1/Y= % PV=$ PMT=$ FV=$

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_2

Step: 3

blur-text-image_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 Accounting For Decision Makers

Financial Accounting For Decision Makers

Authors: Eddie McLaney, Peter Atrill

4th Edition

9780273688471

More Books

Students also viewed these Accounting questions

Question

★★★★★
In 2015, Nina contributes 10 percent of her $100,000 annual salary to her 401(k) account. She expects to earn a 7 percent before-tax rate of return. Assuming she leaves this (and any employer...

Answered: 1 week ago

Question

★★★★★
The kinetic diagram representing the general rotational motion of a rigid body about a fixed axis passing through O is shown in the figure. Show that I G may be eliminated by moving the vectors m(a...

Answered: 1 week ago

Question

★★★★★
Why are stereotypes so resistant to change?

Answered: 1 week ago

Question

★★★★★
Bruns and Merchant found that managers did not agree on the types of earnings management activities that are acceptable. Refer to the definitions of earnings management in Chapter 7. Explain how...

Answered: 1 week ago

Question

★★★★★
1. Which of the following is not an example of IFRS simplified for SMEs? Multiple Choice a. All borrowing costs are expensed as incurred. b. All development costs are expensed as incurred. c....

Answered: 1 week ago

Question

★★★★★
The total sales of S (in thousands of DVD's) of a certain movie are given by the following formula where t is the number of months since the release of the DVD. Use the formula to answer the...

Answered: 1 week ago

Question

★★★★★
B. Credit Card Volume: The total credit card volume for Visa, MasterCard, American Express, and Discover has increased dramatically in recent years, as shown in the table below. (Source, CardWeb...

Answered: 1 week ago

Question

★★★★★
Two desks are setup parallel (customer may choose any of these two desks). Each desk takes 26 minutes with each customer. What is the throughput of this parallel system? Provide your answer in...

Answered: 1 week ago

Question

★★★★★
Entrepreneur and firm founder Oscar Farinetti has said that Eataly's "informal style of communication shows how direct and approachable we are, just the way people like." A focus on customer...

Answered: 1 week ago

Question

★★★★★
Bank Organizer Printers Inc, produces luxury checkbooks with three checks and stubs per page. Each checkbook is designed for an individual customer and is ordered through the customers bank. The...

Answered: 1 week ago

Question

★★★★★
PA1 LO 10.1 Artisan Metalworks has a bottleneck in their production that occurs within the engraving department. Jamal Moore, the COO is considering hiring an extra worker, whose salary will be...

Answered: 1 week ago

Question

★★★★★
Why do you believe it is no longer appropriate to ask whether a job applicant has ever been arrested? Is it not in an employers best interests to avoid taking on workers who have criminal records?

Answered: 1 week ago

Question

★★★★★
An interviewing manager should be prepared to respond in considerable detail to any unsuccessful job candidate who calls asking why he or she was not offered employment. Do you agree or disagree with...

Answered: 1 week ago

Question

★★★★★
Provide three examples of interview questions that are legal but which provide an interviewing manager with little or no useful information.

Answered: 1 week ago

Previous Question Next Question