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What's the present value of $11,500 discounted back 5 years if the appropriate interest rate is 4.5%...
5 months ago
Q:
What's the present value of $11,500 discounted back 5 years if the appropriate interest rate is 4.5%, compounded semiannually?
Accepted Solution
A:
$1,500/(0.03)^10 = $1,116.14