Find the present value today of $9800 at the end of 8 years using a nominal annual rate of interest of 7% compounded semiannually.
A = P( 1 + i)n
Where
A = 9800
i = 0.07/2
n = 8 * 2 = 16
9800 = P ( 1 + (0.07/2) )16
P = 5651.72
Find the present value today of $9800 at the end of 8 years using a nominal...