The amount in a fund one and a half years from today is equal to 100. Find the present value of the fund using a nominal discount rate of 5% convertible semiannually.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 10RE: If 90,000 is invested in a fund on December 31, 2019, and 5 equal annual withdrawals of 23,138.32...
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The amount in a fund one and a half years from today is equal to 100. Find the present value of the fund using a nominal discount rate of 5% convertible semiannually. 

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