Present Value The present value of a sum of moneyis the amount that must be invested
Chapter 4, Problem 62(choose chapter or problem)
Present Value The present value of a sum of moneyis the amount that must be invested now, at a given rate of interest,to produce the desired sum at a later date. Find the present value of $100,000 if interest is paidat a rate of 8% per year, compounded monthly, for5 years.
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