Question: As an example, what if your yearly interest is 12%, but you want to calculate 6 months (not years). You would need to convert the

As an example, what if your yearly interest is 12%, but you want to calculate 6 months (not years). You would need to convert the yearly interest into monthly interest by dividing interest by 12. Assume that the interest rates shown are yearly, but the periods are monthly. Calculate the present value. Hint: adjust C1! Write =PV(interest, years, 0, future value) A Option B Prize C Interest Rate D Years Formula Result Correct Result 1 A $1,000 1% 10 = PV(rate, nper, pmt, fv) -$991.70 2 B $500 15% 10 = -$441.59 3 C $750 5% 10 = -$719.45 Progress

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