Compute the present value of the following: (Round time value factors to 6 decimal places and...
Compute the present value of the following: (Round time value factors to 6 decimal places and final answer to the nearest dollar amount. Omit the "$" sign and commas in your response. For example, $123,456 should be entered as 123456.)
Years: 15
Interest Rate: 9.2 percent
Future Value: $607845
Homework Answers
|
Formula: PV = |FV| / (1+R%)^N |
|
PV = 607845 / (1+0.092)^15 = 162350 |
OR
|
Using financial calculator BA II Plus - Input details: |
# |
|
I/Y = Rate or yield / frequency = |
9.200000 |
|
PMT = Payment = Payment / frequency = |
$0.00 |
|
N = Total number of periods = Number of years x frequency = |
15.00 |
|
FV = Future Value = |
-$607,845.00 |
|
CPT > PV = Present Value of the instrument = |
162350 |
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