Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 19,2023 the future value of a sum of money will be $84,300. What would be the present value of this sum of money

On January 19,2023 the future value of a sum of money will be $84,300. What would be the present value of this sum of money on August 1,2020 , if the interest rate is 3.54% compounded semiannually. (1year =365 days) Round the value for PV to two decimal places

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

Risk Management And Financial Institution

Authors: John C. Hull

2nd Edition

0136102956, 9780136102953

More Books

Students also viewed these Finance questions

Question

Whats involved in listening?

Answered: 1 week ago