+0  
 
0
174
1
avatar+350 

Find the present value of the following future amount. $2000 at 7% compounded semiannually for 20 years

 

The present value is $______.

(Round to the nearest cent as  needed.)

ladiikeiii  Dec 5, 2017
 #1
avatar+86943 
+3

2000  = A ( 1 + .07/2)^(20*2)

 

2000 = A ( 1.035)^(40)  

 

2000 /  ( 1.035)^(40)  =  A  ≈  $505.14

 

 

cool cool cool

CPhill  Dec 5, 2017

7 Online Users

New Privacy Policy

We use cookies to personalise content and advertisements and to analyse access to our website. Furthermore, our partners for online advertising receive information about your use of our website.
For more information: our cookie policy and privacy policy.