Question
Asked Dec 2, 2019
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Solve the following problem.
$173; PV ?
n 18; i= 0.052; PMT
PV =S(Round to two decimal places.)
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Solve the following problem. $173; PV ? n 18; i= 0.052; PMT PV =S(Round to two decimal places.)

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Expert Answer

Step 1

Given :

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n 18; i 0.052; PMT = $173 We know 1-(1 i) PV PMT i

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Step 2

Putting the values...

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1-(1+1) PV PMT i 1-(1+0.052)18 or,PV 173 0.052 or PV $1991.0677

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