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

Question

1 Approved Answer

What is the discounted value of payments of $85.00 made at the end of each month for 8.5 years if interest is 8% compounded monthly?

image text in transcribed

What is the discounted value of payments of $85.00 made at the end of each month for 8.5 years if interest is 8% compounded monthly? ... The discounted value is $17. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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

Handbook Of Energy Finance Theories Practices And Simulations

Handbook Of Energy Finance Theories Practices And Simulations

Authors: Stéphane Goutte, Duc Khuong Nguyen

1st Edition

9813278374, 978-9813278370

More Books

Students also viewed these Finance questions

Question

★★★★★
The velocity field given in Prob. 2.4 is called vortex flow. For vortex flow, calculate: (a) The time rate of change of the volume of a fluid element per unit volume (b) The vorticity

Answered: 1 week ago

Question

★★★★★
Let u be a differentiable function of x. Use the fact that |u| = u to prove that d dx [ul] = wi n u 0.

Answered: 1 week ago

Question

★★★★★
1. Using your knowledge of film, identify five movie characters who epitomize the life style of the getting type.

Answered: 1 week ago

Question

★★★★★
Data for Video Phones, Inc., are provided in P114A. In P114A, The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. Required: Prepare the statement of...

Answered: 1 week ago

Question

★★★★★
Use the following information to answer the questions: Assets Liabilities and Equity Cash 14,000 Accounts payable 18,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable 5,000...

Answered: 1 week ago

Question

★★★★★
Categorize ML problem: Analyze a traffic Light image to find the signsl - Red or Green or Amber

Answered: 1 week ago

Question

★★★★★
Question 1 Title: Evaluate/Asses Ford South Africa Motor Company's Corporate Social Investment Strategy/Plan over the last 5 years. Who were the beneficiaries? How did they benefit? How successful...

Answered: 1 week ago

Question

★★★★★
Mawar manufacturing provides photocopy machines. Each time the machines breakdown, the company estimates that it loses an average of RM 500 in time and service expenses. One of the alternatives in...

Answered: 1 week ago

Question

★★★★★
WHAT TO EXPECT THIS WEEK How might Ethelo achieve greater financial sustainability with their climate focused products and services when serving smaller municipalities? Section 1-Define the business...

Answered: 1 week ago

Question

★★★★★
Capturing Good Memories During the Pandemic The Pandemic has been affecting the entire world for more than two years now. Despite the government's recently relaxed rules, most industries still have...

Answered: 1 week ago

Question

★★★★★
Describe Samsung Electronics' Internal Quality Management Program. What are the key components? Provide an assessment of Samsung Electronics' Internal Quality Management Program. Does the plan appear...

Answered: 1 week ago

Question

★★★★★
3. A good source for seeing the subtle differences between legal and illegal job interview questions is at the following job Web site: www.jobweb.com/Interview...

Answered: 1 week ago

Question

★★★★★
6. Conduct an in-depth information-gathering interview, and write a four-to fivepage report in which you summarize the information you received. Then comment on what you learned about the interview...

Answered: 1 week ago

Question

★★★★★
4. Assess your goals for employment, and then design (or revise) a rsum for the job that interests you the most. Use the guidelines in this chapter to make it clear and action-oriented. Prepare...

Answered: 1 week ago

Previous Question Next Question