Find the present value of $4,000 to be received in 9 years, if money may be invested at 5.3% with interest compounded continuously.

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
icon
Related questions
Question

Kk133.

 

Find the present value of $4,000 to be received in 9 years, if money may be invested at 5.3% with interest compounded continuously.
The present value is $.
(Round to the nearest cent as needed.)
Transcribed Image Text:Find the present value of $4,000 to be received in 9 years, if money may be invested at 5.3% with interest compounded continuously. The present value is $. (Round to the nearest cent as needed.)
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Present Value
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Corporate Fin Focused Approach
Corporate Fin Focused Approach
Finance
ISBN:
9781285660516
Author:
EHRHARDT
Publisher:
Cengage
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College