Question

A debt of $6830.28 is due February 1, 2025. What is the value of the obligation on February 1, 2016, if money is worth 9% compounded monthly? The value of the obligation is $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) 43

Answer 1

0 Solution :- Given that Let The value of the obligation is P. 30, n=q year 5 0 - 59% 1 0.09 compounded monthly By condition 12²9 P(1+ 72 68306 28 100 P(1+ 12*9 9 12*100) 6830.28 Plita 1200 108 = 6830-28 P//a0+၃ - 6830.28 P/ 1209 108 - 6830.28 1200 P = 6880.26 * ( isboa 1200 108 - 6830.28 * (0.9925558)'08 6830•28 * 0.446204638 - 3,047.7026165 The value of the obligation i5 3,00-70 70. Thank you

I HOPE THIS ANSWER WILL BE HELPFUL TO YOU

PLEASE LIKE THIS ANSWER

THANK YOU.