An investment will pay you $91,000 in five years. assume the appropriate discount rate is 6.25 percent compounded daily. what is the present value?

Question

03-10-2017
Business

contestada

An investment will pay you $91,000 in five years. assume the appropriate discount rate is 6.25 percent compounded daily. what is the present value?

Respuesta :

Otras preguntas

Henry can ride his bike 23 miles in 2 hours. The store is six miles away. About hoe long should it take Henry to ride his bike to the store?

If 2x+z=2y and 2x+2y+z=20 what is the value of y?

A car salesperson earns 1.5% commission on every car sold. The salesperson sell a car for $22,500. What is the commission?

How many square units are in the greatest area that can be enclosed by a rectangle whose perimeter is 20 units?

what SI unit would best be used to express the height of your classroom ceiling ?

Which of the following is x⁴ + y⁴ identically equal to? (A) (x² + y²)(x + y)(x - y) (B) (x² + xy + y²)(x² - xy + y²) (C) (x² + √2xy + y²)(x² - √2xy + y²) (D) (x

what planet starts with e?

Mrs.Savin receives a weekly base salary of $500,plus a commission of $1200 on each car that she sells. Write a function rule relating her total weekly pay p to

in what way is a gene pool representative of a population

Аноним Аноним · Answer 1 · 2017-10-11T23:31:09+02:00

Аноним Аноним

11-10-2017

Given:
Value = $91,000, value after 5 years
t = 5 years
n = 365, daily compounding
r = 6.25% = 0.0625, discount rate

Note that
n*t = 365*5 = 1825

Let P = principal, the current value
Then
P(1 + 0.0625/365)¹⁸²⁵ = 91000
1.3668P = 91000
P = $66,578.80

Answer: $66,758.80

Answer Link