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3 years ago

Find the present value of $19,000 in 11 months at 5.1% interest

Business

1 answer:

dem82 [27]3 years ago

5 0

Answer:

$19,886.396

Explanation:

Given :

Interest rate = 5.1% = 5.1

Principal = $19000

Period = 11 months = (11/12)year

The present value of 19000 in 11 months at 5.1% interest Can be obtained using the relation:

PV = P(1 + r)^n

PV = 19000(1 + 0.051)^(11/12)

PV = 19000(1.051)^(11/12)

PV = 19000 * 1.0466524

PV = 19886.396

Hence, the present value is $19,886.396

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3 years ago

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Check the explanation

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The step by step calculation can be seen below:

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3 years ago

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3 years ago

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3 years ago

Suppose demand and supply are given by qxd = 14 - (1/2)px and qxs = (1/4)px - 1 instructions: enter your responses rounded to th

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3 years ago