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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Present

value.

A promissory note will pay

$ 30 comma 000$30,000
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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
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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