Find the present value for the following future amount. $ 9780 at 4.5% compounded semiannually semiannually...

Question

Question

Find the present value for the following future amount. $ 9780 at 4.5% compounded semiannually semiannually for 14 years.

The present value is $ .

(Do not round until the final answer. Then round to the nearest cent as needed.)

Answer 1

Answer #1

The present value is computed as shown below:

Present value = Future value / (1 + r )ⁿ

= $ 9,780 / (1 + 0.045 / 2 )^{14 x 2}

= $ 5,245.25 Approximately

Feel free to ask in case of any query relating to this question

Answer 2

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