Present Value of $1.00 This Question: 1 pt Find the amount that should be set as
ID: 2749801 • Letter: P
Question
Present Value of $1.00 This Question: 1 pt Find the amount that should be set aside today to yield the desired future amount Rate per period Periods 0.5% 1% 1.5% 2% 2.5% 3% 6% 8% 10% 12% 10.99502 0.99010 0.98522 0.98039 0.97561 0.97087 0.96154 0.95238 0.94340 0.92593 0.90909 0.89286 2 0.99007 0.98030 0.97066 0.96117 0.95181 0.94260 0.92456 0.90703 0.89000 0.85734 0.82645 0.79719 30.98515 0.97059 0.95632 0.94232 0.92860 0.91514 0.88900 0.86384 0.83962 0.79383 0.75131 0.71178 4 0.98025 0.96098 0.94218 0.92385 0.90595 0.88849 0.85480 0.82270 0.79209 0.73503 0.68301 0.63552 5 0.97537 0.95147 0.92826 0.90573 0.88385 0.86261 0.82193 0.78353 0.74726 0.68058 0.62092 0.56743 6 0.97052 0.94205 0.91454 0.88797 0.86230 0.83748 0.79031 0.74622 0.70496 0.63017 0.56447 0.50663 7 0.96569 0.93272 0.90103 0.87056 0.84127 0.81309 0.75992 0.71068 0.66506 0.58349 0.51316 0.45235 8 0.96089 0.92348 0.88771 0.85349 0.82075 0.78941 0.73069 0.67684 0.62741 0.54027 0.46651 0.40388 9 0.95610 0.91434 0.87459 0.83676 0.80073 0.76642 0.70259 0.64461 0.59190 0.50025 0.42410 0.36061 10 0.95135 0.90529 0.86167 0.82035 0.78120 0.74409 0.67556 0.61391 0.55839 0.46319 0.38554 0.32197 110.94661 0.89632 0.84893 0.80426 0.76214 0.72242 0.64958 0.58468 0.52679 0.42888 0.35049 0.28748 12 0.94191 0.88745 0.83639 0.78849 0.74356 0.70138 0.62460 0.55684 0.49697 0.39711 0.31863 0.25668 130.93722 0.87866 0.82403 0.77303 0.72542 0.68095 0.60057 0.53032 0.46884 0.36770 0.28966 0.22917 14 0.93256 0.86996 0.81185 0.75788 0.70773 0.66112 0.57748 0.50507 0.44230 0.34046 0.26333 0.20462 150.92792 0.86135 0.79985 0.74301 0.69047 0.64186 0.55526 0.48102 0.41727 0.31524 0.23939 0.18270 16 0.92330 0.85282 0.78803 0.72845 0.67362 0.62317 0.53391 0.45811 0.39365 0.29189 0.21763 0.16312 170.91871 0.84438 0.77639 0.71416 0.65720 0.60502 0.51337 0.43630 0.37136 0.27027 0.19784 0.14564 180.91414 0.83602 0.76491 0.70016 0.64117 0.58739 0.49363 0.41552 0.35034 0.25025 0.17986 0.13004 190.90959 0.82774 0.75361 0.68643 0.62553 0.57029 0.47464 0.39573 0.33051 0.23171 0.16351 0.11611 20 0.905060.81954 0.74247 0.67297 0.61027 0.55368 0.45639 0.37689 0.31180 0.21455 0.14864 0.10367 Future amount Interest Compounding Investment period needed $7,000 Click the icon to view the present value of $1.00 table rate time 3% semiannually 2years The present value is (Round to the nearest cent as needed.) Print Done Enter your answer in the answer box revious Ques Next Question Submit QuizExplanation / Answer
1)
Future value = P×(1+r)^n
P is payment
r is interest rate per period
n is number of periods
$7,000 = P×(1+(3%÷2))^(2×2)
Present value, P = $6,595.29
2)
Interest:
= $3,000×15%×62÷365
= $76.44