Question: Using provided data, solve for present value. Use the I/Y and N values when looking up the factor in the tables. Do NOT use the

Using provided data, solve for present value. Use the I/Y and N values when looking up the factor in the tables. Do NOT use the annual values. Round your final answer to the nearest whole dollar.

Facts

PV: ?

FV: $233,000

Annual Interest Rate: 12%

I/Y: 1%

n: (Number of years) 2

N: (Number of compounding periods) 24

Compounded (Y): Monthly

Table Method PV = FV X Factor

FV = 233000

Factor = ?

Result = ?

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