13. Calculate the present value of $1,000 to be received at the end of 8 years. Assume an interest rate of 7% compounded annually. O $5,971.30 $582 $531.82 O $1,718.19
13. Calculate the present value of $1,000 to be received at the end of 8 years. Assume an interest rate of 7% compounded annually. O $5,971.30 $582 $531.82 O $1,718.19
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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13. Calculate the present value of $1,000 to
be received at the end of 8
years.
Assume
an interest rate of 7% compounded
annually.
$5,971.30
$582
$531.82
O $1,718.19
14. You decide to begin saving toward the
purchase of a new car in 5 years. If you put
$1,000 at the end of the next 5 years in a
savings account paying 6% compounded
annually, how much will you accumulate
after 5 years?
$5,338.23
$1,338.23
$5,637.10
$5,975.33
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