Answer:
PV= $12,111.93 = $12,112
Explanation:
Giving the following information:
Future Value (FV)= $150,000
Interest rate (i)= 8.75% = 0.0875
Number of periods (n)= 30
<u>To calculate the present value (PV), we need to use the following formula:</u>
PV= FV/(1+i)^n
PV= 150,000 / (1.0875^30)
PV= $12,111.93
More bankruptcies because if there is a crisis people are losing a lot of money and are more than likely filling for bankruptcies.
59 years old
Hope I got it right for you good luck
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Society must choose what to produce based on its needs. Because we live in a world of relatively scarce resources, we have to make wise economic decisions.
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