What's the present value of $14,000 discounted back 5 years if the appropriate interest rate is 4.5%, compounded semiannually? a. $9,024.59     b. $9,014.99     c. $9,005.39     d. $9,034.19     e. $9,043.79

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 5P
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What's the present value of $14,000 discounted back 5 years if the appropriate interest rate is 4.5%, compounded semiannually?

a. $9,024.59  
  b. $9,014.99  
  c. $9,005.39  
  d. $9,034.19  
  e. $9,043.79
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