Question
Question 3 - For the cash flows shown below, determine the present worth (time 0), using an interest rate of 18% per year, compounded monthly.
Question 3 - For the cash flows shown below, determine the present worth (time 0), using an interest rate of 18% per year, compounded monthly.
Month Cash Flow, $/Month
0 1000
112 2000
1328 3000
Selected Answer: $58,273 Correct
I got this correct but I was lucky and need some help with how to properly caculate this
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Managerial Accounting
Authors: Harold M. Sollenberger, Arnold Schneider, Lane K. Anderson
9th Edition
0538842822, 978-0538842822
