Complete the following using present value. (Use the Table 12.3 provided.) Note: Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the "PV factor" to 4 lecimal places and final answer to the nearest cent. Amount desired at end of period $ 9,900 Length of time 3 years Rate Compounded 12 % Monthly On PV Table 12.3 Period used Rate used % PV factor used PV of amount desired at end of period
Complete the following using present value. (Use the Table 12.3 provided.) Note: Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the "PV factor" to 4 lecimal places and final answer to the nearest cent. Amount desired at end of period $ 9,900 Length of time 3 years Rate Compounded 12 % Monthly On PV Table 12.3 Period used Rate used % PV factor used PV of amount desired at end of period
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![Complete the following using present value. (Use the Table 12.3 provided.)
Note: Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the "PV factor" to 4
lecimal places and final answer to the nearest cent.
Amount
desired at
end of period
$
9,900
Length
of time
3 years
Rate
Compounded
12% Monthly
On PV Table 12.3
Period
used
Rate used
PV factor used
PV of amount
desired at
end of period](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd7e7201d-bbb3-49b7-a9e6-eeca85608309%2F8c6b526c-7724-4201-8a65-34ca4bb9a887%2Fi1nf228_processed.png&w=3840&q=75)
Transcribed Image Text:Complete the following using present value. (Use the Table 12.3 provided.)
Note: Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the "PV factor" to 4
lecimal places and final answer to the nearest cent.
Amount
desired at
end of period
$
9,900
Length
of time
3 years
Rate
Compounded
12% Monthly
On PV Table 12.3
Period
used
Rate used
PV factor used
PV of amount
desired at
end of period
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