What is the value of X?
1 answer:
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The TVM solver is a tool found in graphing calculators, that solve Time Value of Money problems.
The group of values that will return the same value as the given expression is;
D. N = 24; I% = 3.6; PV =; PMT = -415; FV = 0; P/Y = 12; C/Y = 12; PMT :END
<h3>What is Present Value?</h3>
Present value (PV) formula finds application in finance to calculate the present day value of an amount that is received at a future date.
In the TVM solver, we have;
I = The annual percentage rate
N = n × t
t = The number of years
PV = Present value
PMT = Payment
P/Y = Number of payments per year = n
C/Y = Number of compounding periods per year = n
The formula for monthly payment is presented as follows;
M =
Therefore, we get;
Where;
M = PMT = -415
P = PV
r = I
P/Y = n = 12
Therefore;
0.003 = I/12
I = 0.003 X 12 = 3.6%
N = n X t = 24
The value of the equation is the present value, PV = ?
When payment are made based on the PV, we have FV = 0
The group of values the same value as the expression
P =
when plugged into the TVM solver of a calculator is;
D. N = 24; I% = 3.6; PV =; PMT = -415; FV = 0; P/Y = 12; C/Y = 12; PMT :END
Learn more about Present Value Solver from:
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