Paul Havlik promised his grandson Jamie that he would give him $8,500 9 years from today for graduating from high school. Assume money is worth 6% interest compounded semiannually. What is the present value of this $8,500?
Paul Havlik promised his grandson Jamie that he would give him $8,500 9 years from today for graduating from high school. Assume money is worth 6% interest compounded semiannually. What is the present value of this $8,500?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 39P
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Paul Havlik promised his grandson Jamie that he would give him $8,500 9 years from today for graduating from high school. Assume money is worth 6% interest compounded semiannually.
What is the
Present value –
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