A debt of RM8,000 will mature in four years'time. Find: (a) the present value of this debt (b) the value of this debt at the end of two years, and (c) the value of this debt at the end of five years, assuming money is worth 9% compounded quarterly.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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A debt of RM8,000 will mature in four years'time. Find:
(a) the present value of this debt
(b) the value of this debt at the end of two years, and
(c) the value of this debt at the end of five years,
assuming money is worth 9% compounded quarterly.
Transcribed Image Text:A debt of RM8,000 will mature in four years'time. Find: (a) the present value of this debt (b) the value of this debt at the end of two years, and (c) the value of this debt at the end of five years, assuming money is worth 9% compounded quarterly.
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