Question
The following investment requires a table factor for a period beyond the table. Calculate the new table factor and the present value (principal). Use Table
The following investment requires a table factor for a period beyond the table. Calculate the new table factor and the present value (principal). Use Table 11-2. Round your new table factor to five decimal places and your present value to the nearest cent.
| Compound Amount | Term of Investment (years) | Nominal Rate (%) | Interest Compounded | New Table Factor | Present Value |
|---|---|---|---|---|---|
| $32,000 | 36 | 7 | annually
|
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Financial Management Theory And Practice
Authors: Prasanna Chandra
7th Edition
0070656657, 978-0070656659
