Assume that the cost of a university education will be $250,000 when Mr. Parata's child enters university in 12 years' time. If the discount rate is 6.76% per annum, compounded monthly, what is the present value (in 2 decimal places)?". Do not enter "$" in your answer. For example, enter "1000.23" for "$1000.23".
Assume that the cost of a university education will be $250,000 when Mr. Parata's child enters university in 12 years' time. If the discount rate is 6.76% per annum, compounded monthly, what is the present value (in 2 decimal places)?". Do not enter "$" in your answer. For example, enter "1000.23" for "$1000.23".
Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.6P
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![Assume that the cost of a university education will be $250,000 when Mr. Parata's child
enters university in 12 years' time. If the discount rate is 6.76% per annum,
compounded monthly, what is the present value (in 2 decimal places)?"
Do not enter "$" in your answer. For example, enter "1000.23" for "$1000.23".](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4c6f8a6e-a57d-4ddb-9025-e3337a8e7d18%2Fa4cb3249-b45b-4235-ad49-280d0fb3e17a%2Fxz1ci68_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assume that the cost of a university education will be $250,000 when Mr. Parata's child
enters university in 12 years' time. If the discount rate is 6.76% per annum,
compounded monthly, what is the present value (in 2 decimal places)?"
Do not enter "$" in your answer. For example, enter "1000.23" for "$1000.23".
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