masonskylar43 masonskylar43

04-02-2020
Mathematics

contestada

Find the present value. Assume there are 360 days in a year.

FV = $83870
t = 226 days
r = 6.8%

Respuesta :

DevonFen DevonFen

10-02-2020

Therefore the present value = $ 80517.91

Step-by-step explanation:

[tex]PV = FV \div (1+i)^n[/tex]

Here FV = $83870

i = 6.8% = 0.068

[tex]n = \frac{226}{365}[/tex] =0.62

Therefore,

[tex]PV=\frac{83870}{(1+0.068)^{0.62}}[/tex]

=$80517.91

Therefore the present value = $ 80517.91

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