SOLUTION: Find the present value of $27000 if the annual interest rate is 5% compounded quarterly for 18 quarters

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Question 485493: Find the present value of $27000 if the annual interest rate is 5% compounded quarterly for 18 quarters
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
5% per year = 0.05/4 = 0.0125 per quarter
FV = 27000*(1 + 0.0125)^18
Just calculator work from there.