A $2,400 payment is due 6 months from today. What is the equivalent value of the...
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A $2,400 payment is due 6 months from today. What is the equivalent value of the $2,400 payment if it is paid 15 months from today instead? Money earns 7.2% compounded semi-annually? Refer to the "?"s in the table and enter the appropriate values in the blanks below. (In your rough work, it may be helpful to draw a timeline.) N ? (Round dollar values to two decimal places.) N = PV = FV = PY/CY= I/Y 7.2 N N P PV ? E PMT 0 FV ? PY/CY ? A $2,400 payment is due 6 months from today. What is the equivalent value of the $2,400 payment if it is paid 15 months from today instead? Money earns 7.2% compounded semi-annually? Refer to the "?"s in the table and enter the appropriate values in the blanks below. (In your rough work, it may be helpful to draw a timeline.) N ? (Round dollar values to two decimal places.) N = PV = FV = PY/CY= I/Y 7.2 N N P PV ? E PMT 0 FV ? PY/CY ?
Expert Answer:
Answer rating: 100% (QA)
Equivalent value 24001i11 24001721211 2400 1000611 2400100611 256324 FV ... View the full answer
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Posted Date:
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