Compute the present value of $25 invested every month if the - 14584

Solution Posted by
yousafbhutta

yousafbhutta

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  • Posted on: Sat 27 Oct, 2012
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Request Description

Compute the present value of $25 invested every month if the appropriate annual rate is 8.4% discounted monthly and you invest the money for 4 years with the first payment made one month from now.
Answer
a. $740.89
b. $1023.33
c. $1,016.21
d. $1,026.22
4 points

Solution Description

 

Compute the present value of $25 invested every