The following investment requires a table factor for a period beyond the table. Calculate the new table factor and the present value (principal). Use Table 11-2. Round your new table factor to five decimal places and your present value to the nearest cent. Compound Amount Term of Investment (years) Nominal Rate (%) Interest Compounded New Table Factor Present Value $37,000 38 7 annually $

The following investment requires a table factor for a period beyond the table. Calculate the new table factor and the present value (principal). Use Table 11-2. Round your new table factor to five decimal places and your present value to the nearest cent. Compound Amount Term of Investment (years) Nominal Rate (%) Interest Compounded New Table Factor Present Value $37,000 38 7 annually $

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 29P

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Compound Amount	Term of Investment (years)	Nominal Rate (%)	Interest Compounded	New Table Factor	Present Value
$37,000	38	7	annually		$

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