SOLUTION: Find the present value of the given future payment at the specified interest rate. $8000 due in 7 and one half years at 8% compounded quarterly

SOLUTION: Find the present value of the given future payment at the specified interest rate. $8000 due in 7 and one half years at 8% compounded quarterly

Algebra.Com

Question 1083413: Find the present value of the given future payment at the specified interest rate.
$8000 due in 7 and one half years at 8% compounded quarterly
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
PV = 8000[1/(1+0.08/4)^(4*7.5)]
PV = 8000[1/1.02)^30]
PV = 8000(1/1.811)
PV = 4417.45
RELATED QUESTIONS
Find the present value of the given future payment at the specified interest rate.... (answered by Boreal)

Find the present value of $40,000 due in 4 years at the given rate of interest 8%/year... (answered by reviewermath)

Find the present value of $60,000 due in 4 yr at the given rate of interest. (Round your... (answered by rfer)

Find the payment that should be used for the annuity due whose future value is given.... (answered by MathTherapy)

John takes out a 6 year loan for $9300 at 12% interest compounded monthly. Calculate his... (answered by Boreal)

find the presented value of $40,000 due in 4 years at the given rate of interest 5%/year... (answered by jorel1380)

1st question: The principal P is borrowed at a simple interest rate r for a period of (answered by ikleyn)

1) Find the future value of a simple interest loan of $4,000 at 5.5% interest for 7... (answered by Theo,MathTherapy)

in finance, the future value of a single sum formula is useful when you want to know how... (answered by MathLover1)