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Jobisdone [24]
3 years ago
9

What is the present value of $6,000 to be received at the end of each of eight periods, assuming the first payment occurs at the

end of the fourth year and an interest rate of 10%?
Mathematics
1 answer:
Kipish [7]3 years ago
6 0

Answer: Present value = $7200

Step-by-step explanation: Given Principal that is the original amount is $6000

Rate is 10% every fourth year

But the total period is eight.

So the interest would be paid 8/4 = 2 times.

Therefore,

Simple interest

= {principal * rate * no of times}/100

= {$6000*10*2}/100

Simple interest = $1200

Present value

= principal + Simple interest

= $6000 + $1200

= $7200.

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3 years ago
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Answer:

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Step-by-step explanation:

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4 0
3 years ago
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