Find the present value of the following future amount. $200,000 at 6% compounded semiannually for 20 years What is the present value? (Round to the appropriate cent.)

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 17E: Mortgage what is the monthly payment on a 30-year mortgage of $100,000 at 8% interest per year,...
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Find the present value of the following future amount.
$200,000 at 6% compounded semiannually for 20 years
What is the present value?
(Round to the appropriate cent.)
Transcribed Image Text:Find the present value of the following future amount. $200,000 at 6% compounded semiannually for 20 years What is the present value? (Round to the appropriate cent.)
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