An investment will pay you $40,000 in 11 years. If the appropriate discount rate is 6.7 percent compounded daily, what is the present value? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
An investment will pay you $40,000 in 11 years. If the appropriate discount rate is 6.7 percent compounded daily, what is the present value? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 9PROB
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An investment will pay you $40,000 in 11 years. If the appropriate discount rate is 6.7 percent compounded daily, what is the present value? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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