Explanation Approach: Here PV function is used to compute the present value of a lump sum investment. Click Financial from the Function Library on formula tab and select PV . The Function Argument dialog box will appear. Enter the Values in the dialog box as shown below and calculate the required value. Figure ( 1 ) The answer is − $ 62244

Finite Mathematics for the Managerial, Life, and Social Sciences, 11th Edition

11th Edition

ISBN: 9781285464657

Author: Soo T. Tan

Publisher: Brooks Cole

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Chapter 5.1, Problem 12TE

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The present value of $111000 due in 5 years at 1158%/year compounded monthly.

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Chapter 5.1, Problem 11TE

Chapter 5.2, Problem 1CQ

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Chapter 5 Solutions

Finite Mathematics for the Managerial, Life, and Social Sciences, 11th Edition

Ch. 5.1 - Explain the difference between simple interest and...Ch. 5.1 - Prob. 2CQ Ch. 5.1 - Prob. 3CQ Ch. 5.1 - Prob. 1E Ch. 5.1 - Prob. 2E Ch. 5.1 - Find the accumulated amount at the end of 9months...Ch. 5.1 - Find the accumulated amount at the end of 8months...Ch. 5.1 - Prob. 5E Ch. 5.1 - A bank deposit paying simple interest at the rate...Ch. 5.1 - Prob. 7E

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The present value of $ 111000 due in 5 years at 11 5 8 % / year compounded monthly.

Solution Summary: The author explains how PV function is used to compute the present value of a lump sum investment.

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The present value of $111000 due in 5 years at 1158%/year compounded monthly.

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Chapter 5 Solutions