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 ->  Finance -> 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      Log On


   

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) About Me  (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