Consider the following future value. (Round your answers to the nearest cent.) $3,739 at 11 7/8% compounded monthly for 17 years and 7 months (a) Find the present value that will generate the given future value. $ ____________ (b) Interpret the present value. One would have to invest $ ___________ now to have the future value in the given time.
Consider the following future value. (Round your answers to the nearest cent.) $3,739 at 11 7/8% compounded monthly for 17 years and 7 months (a) Find the present value that will generate the given future value. $ ____________ (b) Interpret the present value. One would have to invest $ ___________ now to have the future value in the given time.
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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Consider the following
$3,739 at 11 7/8% compounded monthly for 17 years and 7 months
(a) Find the present value that will generate the given future value.
$ ____________
(b) Interpret the present value.
$ ____________
(b) Interpret the present value.
One would have to invest $ ___________ now to have the future value in the given time.
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