Algebra
ind the present value of $3,200 under each of the following rates and periods.
(If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)
a. 8.9 percent compounded monthly for five years.
| Present value | $ |
b. 6.6 percent compounded quarterly for eight years.
| Present value | $ |
c. 4.3 percent compounded daily for four years.
| Present value | $ |
d. 5.7 percent compounded continuously for three years.
| Present value | $ |
12 years ago 20
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