Present value. A promissory note will pay $30,000 at maturity 10 years from now. How much should you be willing to pay for the note now if money is worth 7.25% compounded continuously? (Round to the nearest dollar.)
Present value. A promissory note will pay $30,000 at maturity 10 years from now. How much should you be willing to pay for the note now if money is worth 7.25% compounded continuously? (Round to the nearest dollar.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 26E
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Question
Present
value.
A promissory note will pay
$ 30 comma 000$30,000
screenshot
attached
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![Present value. A promissory note will pay $30,000 at maturity 10 years from now. How much should you be willing to pay for the note now if money is worth 7.25%
compounded continuously?
$ (Round to the nearest dollar.)
C](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6c2406c9-e114-4e3f-a49f-2f2b8063fa2e%2F155dd454-601a-4978-b0c4-daf91204cde6%2Fzvy05xb_processed.png&w=3840&q=75)
Transcribed Image Text:Present value. A promissory note will pay $30,000 at maturity 10 years from now. How much should you be willing to pay for the note now if money is worth 7.25%
compounded continuously?
$ (Round to the nearest dollar.)
C
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