Question: 5.1.37 Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $9500

5.1.37 Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $9500 at 4% compounded quarterly for 7 years The present value is $ 1. (Do not round until the final answer. Then round to the nearest cent as needed.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Homework. 5.1 Simple and compound interest Score: 0 of 1 pt + 9 of 16 (7 complete) 5.1.37 Find the present value (the amount that should be invested now to accumulate the following amount) if the...

Find the present value (the amount that should be invested now to accumulate the following around the money is compounded as indicand $6000 at 5% compounded quarterly for 3 years The present value is...

Word problems statistics 6' Find the compound amount for the deposit and the amount of interest earned. $14,000 at 7% compounded monthly for 15 years Find the present value (the amount that should be...

Statistics 0' Find the compound amount for the deposit and the amount of interest earned. $14,000 at 7% compounded monthly for 15 years Find the present value (the amount that should be invested now...

Word Problems 3. Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $9100 at 6% compounded quarterly for 9...

part 1 part 2 part 3 part 4 part 5 Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $7000 at 7% compounded...

Financial Math Find the interest rate for a $6000 deposit accumulating to $7395.31, compounded quarterly for 6 years. Find the interest rate for the given deposit and compound amount. $4100...

Find the present value {the amount that should be invested how to accumulate the following amount} if the money is compounded as indicated. $8829.85 at T.1% compounded annually for 4 years The...

Finite Mathematics, Math 117.E59, Fall 2020, Termine Patrick Sheasley & | 10/05/20 HW Score: 5.88% rse Homework: Section 5.2 Compound Interest La Score: 0 of 1 pt 7 of 17 (2 complete) 5.2.19 Find the...

1. Ingrid wants to buy a $20,000 car in 5 years. How much money must she deposit at the end of each quarter in an account paying 5.9% compounded quarterly so that she will have enough to pay for her...

The following is the data of PT Car employees in 2019. This can explain the relationships between employee work experience and car sales. The name of the Employee written in a number (numeric) Work...

Mr I. Derdown has received an inheritance of 150,000 and is considering forming a business to manufacture duvet quilts. The following data is available to assist Mr Derdown in making a decision about...

A closely held corporation has all of the following elements, except: Group of answer choices a . There are few shareholders b . The shareholders also tend to be the managers c . The shares are not...

If the following join statement is used to join two tables in a query, which of the following tables would all of the tuples in the relation appear in results? left join university.students on...