What's the present value of $12,000 discounted 5 years if the appropriate interest rate is 4.5%, compounded semiannually? $7,205 $9,606 $9,702 $9,030 $10,736

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 7P
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What's the present value of $12,000 discounted 5 years if the appropriate interest rate is 4.5%, compounded semiannually?

$7,205
$9,606
$9,702
$9,030
$10,736
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