What is the present value on January 1, 2016, of 40000 due on January 1, 2020 and discounted at 11% compounded semiannually?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 5P
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What is the present value on January 1, 2016, of
40000 due on January 1, 2020 and discounted at
11% compounded semiannually?
Transcribed Image Text:What is the present value on January 1, 2016, of 40000 due on January 1, 2020 and discounted at 11% compounded semiannually?
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