An investment will pay you $43,000 in 10 years. If the appropriate discount rate is percent compounded daily, what is the present value? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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An investment will pay you $43,000 in 10
years. If the appropriate discount rate is 7
percent compounded daily, what is the
present value? (Use 365 days a year. Do
not round intermediate calculations and
round your final answer to 2 decimal
places. (e.g., 32.16))
Transcribed Image Text:An investment will pay you $43,000 in 10 years. If the appropriate discount rate is 7 percent compounded daily, what is the present value? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
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