Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.) Amount desired at On PV Table 12.3 PV of amount desired end of period Length of time Rate Compounded Period used Rate used PV factor used at end of period $8,400 10 years 88 semiannually $
Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.) Amount desired at On PV Table 12.3 PV of amount desired end of period Length of time Rate Compounded Period used Rate used PV factor used at end of period $8,400 10 years 88 semiannually $
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "Rate
used" to the nearest tenth percent. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.)
Amount desired at
On PV Table 12.3
PV of amount desired
end of period
Length of time
Rate
Compounded
Period used
Rate used
PV factor used
at end of period
$8,400
10 years
8%
semiannually
$
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