Question: Need help solving this Find the present value. Round to the nearest cent. To get $5600 after 7 years at 8% compounded annually O A.

Need help solving this

Find the present value. Round to the nearest cent. To get $5600 after 7 years at 8% compounded annually O A. $2,332.45 O B. $3,528.95 O C. $5,834.90 O D. $3,267.55

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 Mathematics Questions!

38 and 40 Question 38 0 2 Find the compound amount for the certificate of deposit. Assume daily compounding using the following table. Round to the nearest cent. Compound Interest for Time Deposit...

BMA110 Fall2020 Hiba Naqui 10/28/20 3:28 PM Homework: CH 10.3 Score: 0 of 1 pt 1 of 4 (0 complete) HW Score: 0%, 0 of 4 pts Skill Builder Question Help 10.3.1 Find the present value and the amount of...

$8873.20 5% anually $7300 Amount Needed Time (Years) Interest Compounded 24 SMS ve 2011 31170 45 IN 7219 300 HEEFT CIT WWW WO DICH INSTOC www west STIES be WY RE ET LE AN LAT WS CSIT he GROW EN tur...

please do what you can. will like answers. Solve the application problem. Round to the nearest cent. 1579 1 1 1 SCT LIAT 500 M SILTS chos ZE MY SOCH SES DE 10 11 12 11 Present her of Aity Tale In...

please do what you can. will like answers armually 5% $7300 Amount Needed Time (Years) Interest Compounded UT 4120914300 SON NO 14 CIRC LT BETEL STO CEIT VIT USC 4417111130433 12 47 ans 45 13273 A...

Question 1 Choose the one alternative that best completes the statement or answers the question. Find the ending balance in the account register. $4271.87 $4664.14 $3803.25 $5118.87 10 points...

For the following mixed stream of cash flows, determine the future value at the end of the final year if deposits are made at the beginning of each year into an account paying annual interest of 15%,...

This Question: 1 pt 1 of 10 (0 complete) Find the present value of an ordinary annuity with deposits of $10,076 every 6 months for 5 years at 11.6% compounded semiannually. What is the present value?...

Please work using excel spreadsheet, and providing functions for review. Please and thank you, can you provide this quickly, greatly appreciate it. **The problems have already been worked, just need...

1. [I8.33 Points] DETAILS TANAPCALCEI'HO 5.3.001. Find the accumulated amount A, if the principal P is invested at an interest rate of r per year for 2' years. (Round your answer to the nearest...

Complete the following table to help you determine the poverty rate in Perkopia in 2013. To do this, begin by determining the total income of all individuals in each quintile, using the fact that the...

Select instruments swaps, research and discuss it in detail. Discuss types, importance, typical users, usage as a risk management tool, pricing, effects of regulations, as well as disclosure...

Which of the following statements is correct? Multiple Choice Accrual - based net income can be manipulated because it is bas Cash flows are easily manipulated because they are based on e Accrual -...

Does using a contribution approach is the same as using variable costing?