SOLUTION: Can someone help me with this problem: Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent. $23,749 for 107 days; money earns 8.

Question 203888: Can someone help me with this problem:
Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.
$23,749 for 107 days; money earns 8.5%
Answer by jojo14344(1513) (Show Source): You can put this solution on YOUR website!

Given:

*See highlighted, since it is not given how many times it is compunded in a year, we'll based compounded annually.

--->

P = $23,187.80 (Answer)

Thank you,
Jojo

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