4x / 5 = 1 / 3 ( 2x - 15 )
4x / 5= ( 2x - 15 ) / 3
4x × 3 = 5 ( 2x - 15 )
12x = 10x - 75
12x - 10x = - 75
2x = - 75
x = - 75 / 2
x = - 37.5
To calculate the present value we shall proceed as follows:
from the present value table, the percentage corresponding to discount factor of 0.7008 in 5 years is 7%
therefore using the formula:
FV=PV(1+r/100)^n
where:
FV=$1000
PV=?
r=7%
hence:
1000=PV(1+7/100)^5
PV=1000/(1+7/100)^5
PV=712.986
Answer:
Estimate on the higher side
Step-by-step explanation:
Round up, not down, because A, you might miss a number, or B, you forget taxes.
-hope it helps
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