Hi! The previous tutor answered this question already. I am just confused about the number of days in a year. The tutor uses 365 days, isn't 360 days? Since the question doesn't state any exact value, but only it assumes so I think it is 360 days, right? If the tutor's answer is correct, please enlighten and describe further why is it 365 days and not 360 days. This is the question: Find the present value on Oct. 9, 2020, if the amount on February 4, 2021, is Php.
Hi! The previous tutor answered this question already. I am just confused about the number of days in a year. The tutor uses 365 days, isn't 360 days? Since the question doesn't state any exact value, but only it assumes so I think it is 360 days, right? If the tutor's answer is correct, please enlighten and describe further why is it 365 days and not 360 days. This is the question: Find the present value on Oct. 9, 2020, if the amount on February 4, 2021, is Php.
Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
5th Edition
ISBN:9781305084766
Author:Saeed Moaveni
Publisher:Saeed Moaveni
Chapter20: Engineering Economics
Section: Chapter Questions
Problem 19P
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Hi! The previous tutor answered this question already. I am just confused about the number of days in a year. The tutor uses 365 days, isn't 360 days? Since the question doesn't state any exact value, but only it assumes so I think it is 360 days, right?
If the tutor's answer is correct, please enlighten and describe further why is it 365 days and not 360 days.
This is the question:
- Find the present value on Oct. 9, 2020, if the amount on February 4, 2021, is Php. 4,600 with a discount rate of 3 4/5 %
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