Hi! The previous tutor answered this question already. I am just confused about the number of days in a year. The tutor uses 365 days, isn't 360 days? Since the question doesn't state any exact value, but only it assumes so I think it is 360 days, right? If the tutor's answer is correct, please enlighten and describe further why is it 365 days and not 360 days. This is the question: Find the present value on Oct. 9, 2020, if the amount on February 4, 2021, is Php. 4,600 with a discount rate of 3 4/5 %

Hi! The previous tutor answered this question already. I am just confused about the number of days in a year. The tutor uses 365 days, isn't 360 days? Since the question doesn't state any exact value, but only it assumes so I think it is 360 days, right? If the tutor's answer is correct, please enlighten and describe further why is it 365 days and not 360 days. This is the question: Find the present value on Oct. 9, 2020, if the amount on February 4, 2021, is Php. 4,600 with a discount rate of 3 4/5 %

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1.3CE: Logarithms are especially useful for comparing series with two divergent scales since 10 percent...

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