Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.) On PV Table 12.3 Amount Length of time PV of amount desired at Period desired at Rate Compounded Rate used PV factor used used end of period end of period 2$ 6,400 8 years 8 % semiannually %

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "Rate
used" to the nearest tenth percent. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.)
On PV Table 12.3
Amount
PV of amount
Length
of time
Period
desired at
Rate
Compounded
Rate used
PV factor used
desired at
used
end of period
end of period
$
6,400
8 years
8 %
semiannually
Transcribed Image Text:Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.) On PV Table 12.3 Amount PV of amount Length of time Period desired at Rate Compounded Rate used PV factor used desired at used end of period end of period $ 6,400 8 years 8 % semiannually
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