Answered: lculate the present value of the…

lculate the present value of the compound interest loan. (Round your answers to the nearest cent.) $26,000 after 6 years at 3% if the interest is compounded in the following ways. (a) annually

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 5P

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Question

Calculate the present value of the compound interest loan. (Round your answers to the nearest cent.)

$26,000 after 6 years at 3% if the interest is compounded in the following ways.

(a) annually
$

(b) quarterly
$

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