Find the present value of $50,000 due in 6 years at the given rate of interest. ( Round your answer to the nearest cent.) (a) 6%/year compounded monthly (b) 7% year compounded daily
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
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Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
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Find the present value of $50,000 due in 6 years at the given rate of interest. ( Round your answer to the nearest cent.)
(a) 6%/year compounded monthly
(b) 7% year compounded daily
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