SOLUTION: Find the present value of $40,000 due in 4 years at the given rate of interest 8%/year compounded monthly.

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Question 755742: Find the present value of $40,000 due in 4 years at the given rate of interest 8%/year compounded monthly.
Answer by reviewermath(1029) About Me  (Show Source):
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Q:
Find the present value of $40,000 due in 4 years at the given rate of interest 8%/year compounded monthly.
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A:
PV = 40000%2F%281+%2B+0.08%2F12%29%5E%2812%2A4%29 = $highlight%2829076.82%29