SOLUTION: can someone help please: Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent. $15,000 for 110 days; money earns 8%

Algebra ->  Finance -> SOLUTION: can someone help please: Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent. $15,000 for 110 days; money earns 8%      Log On


   

Question 167896: can someone help please:
Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.
$15,000 for 110 days; money earns 8%
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
15,000(1+.08*110/365)^110/365
15,000(1.0241)^.30137
15,000*1.0072=$15,108.04 ANS.