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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 57
Solve the following word problems by using Table 11-1 or 11-2. When necessary, create new table factors. Round dollars to the nearest cent and percents to the nearest hundredth of a percent.
What is the present value of $73,000 in 11 years if the interest rate is 8% compounded semiannually?
What is the present value of $73,000 in 11 years if the interest rate is 8% compounded semiannually?
Explanation
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The compound amount is $73,000.
Time pe...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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