Essay
Using the compound interest tables, answer each of the following questions.
Required: a. Assuming that to be paid at the end of ten years has a present value today of , what interest rate compounded annually is used in the calculation of the present value?
b. What amount must be deposited today if is to be accumulated six years from today, and interest at is compounded semiannually?
Correct Answer:

Verified
Correct Answer:
Verified
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