Approximately, what is the value of (P) if F=114120, n=8 years, and i= 7% per year? O a. 79703 b. 55128 C. 66419 d. 89002

Personal Finance
13th Edition
ISBN:9781337669214
Author:GARMAN
Publisher:GARMAN
Chapter1: Understanding Personal Finance
Section1.4: Perform Time Value Of Money Calculations
Problem 3CC
icon
Related questions
Question

finance

Approximately, what is the value of (P) if F=114120, n=8 years, and i= 7% per year?
Oa. 79703
Ob. 55128
C. 66419
O d. 89002
Transcribed Image Text:Approximately, what is the value of (P) if F=114120, n=8 years, and i= 7% per year? Oa. 79703 Ob. 55128 C. 66419 O d. 89002
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Present Value
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Personal Finance
Personal Finance
Finance
ISBN:
9781337669214
Author:
GARMAN
Publisher:
Cengage
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
EBK CFIN
EBK CFIN
Finance
ISBN:
9781337671743
Author:
BESLEY
Publisher:
CENGAGE LEARNING - CONSIGNMENT
PFIN (with PFIN Online, 1 term (6 months) Printed…
PFIN (with PFIN Online, 1 term (6 months) Printed…
Finance
ISBN:
9781337117005
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning