Find the present value of $90,000 due in 7 years at the given rate of interest. (Round your answers to the nearest cent.) (a) 3%/year compounded semiannually $ (b) 3%/year compounded quarterly $

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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Find the present value of $90,000 due in 7 years at the given rate of interest. (Round your answers to the nearest cent.)
(a) 3%/year compounded semiannually
$
(b) 3%/year compounded quarterly
$
Transcribed Image Text:Find the present value of $90,000 due in 7 years at the given rate of interest. (Round your answers to the nearest cent.) (a) 3%/year compounded semiannually $ (b) 3%/year compounded quarterly $
Find the accumulated amount A, if the principal P is invested at an interest rate of r per year for t years. (Round your answer to the nearest cent.)
P = $160,000, r = 6%, t = 4, compounded daily
A = $
Transcribed Image Text:Find the accumulated amount A, if the principal P is invested at an interest rate of r per year for t years. (Round your answer to the nearest cent.) P = $160,000, r = 6%, t = 4, compounded daily A = $
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