Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please answer the following. Compute the present value of a $500 investment made 6 months, 5 years, and 10 years from now at 4 percent
please answer the following.
Compute the present value of a $500 investment made 6 months, 5 years, and 10 years from now at 4 percent interest. (Remember the exponent for the 6 month calculation is expressed as 0.5, representing one-half of one year.) Instructions: Enter your responses to the nearest penny (2 decimal places). Do not round intermediate calculations. Present value of investment made in 6 months at 4 percent = $ 98.04 Present values of investment made in 5 years at 4 percent - $ Present value of investment made in 10 years at 4 percent - $ 6756 (Click to select the further into the future the investment is made because The present value of the investment is (Click to select) 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