Find the present value of $800 due in the future under each of these conditions: A. 14% nominal rate, semiannual compounding, discounted back 10 years. Round your answer to the nearest cent. B. 14% nominal rate, quarterly compounding, discounted back 10 years. Round your answer to the nearest cent. C. 14% nominal rate, monthly compounding, discounted back 1 year. Round your answer to the nearest cent.
Find the present value of $800 due in the future under each of these conditions: A. 14% nominal rate, semiannual compounding, discounted back 10 years. Round your answer to the nearest cent. B. 14% nominal rate, quarterly compounding, discounted back 10 years. Round your answer to the nearest cent. C. 14% nominal rate, monthly compounding, discounted back 1 year. Round your answer to the nearest cent.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 7P
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Find the present value of $800 due in the future under each of these conditions:
A. 14% nominal rate, semiannual compounding, discounted back 10 years. Round your answer to the nearest cent.
B. 14% nominal rate, quarterly compounding, discounted back 10 years. Round your answer to the nearest cent.
C. 14% nominal rate, monthly compounding, discounted back 1 year. Round your answer to the nearest cent.
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