What's the present value of $23,000 discounted back 5 years if the appropriate interest rate is...

What's the present value of $23,000 discounted back 5 years if the appropriate interest rate is 4%, compounded semiannually?

Expert Solution

We see that the present value is given as=Future Value/(1+r/2)^(2*n)=23000/(1+4%/2)^(2*5)=18868.01090

jeff jeffy answered 2 years ago

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