Answer in step by step with explanation.Don't use Ai. What is the present value on January 1, 2016, of $5,000 to be received on January 1, 2022, anddiscounted 8% compounded semiannually?

Present Value = Future Value/(1+Interest Rate)^No. of periods Where,Interest Rate = 8%/2 = 4%No. of…

Answered: What is the present value on January 1,…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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What is the present value on January 1, 2016, of $ 5,000 to be received on January 1, 2022, and discounted 8% compounded semiannually?