SOLUTION: Find the present value of the following amount. $50,000 in 5 years and 6 months at 12% compounded quarterly

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Question 252738: Find the present value of the following amount.
$50,000 in 5 years and 6 months at 12% compounded quarterly
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
p=a/(1+r/n)^nt
p=50000/1+.12/4)^4*5
p=50000/(1.03)^20
p=50000/1.81
p=$27,624.31