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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.)

 Dec 5, 2017
 #1
avatar+99580 
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2000  = A ( 1 + .07/2)^(20*2)

 

2000 = A ( 1.035)^(40)  

 

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

 

 

cool cool cool

 Dec 5, 2017

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