chino1599 chino1599

20-05-2017
Mathematics

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Using technology, determine the present value given that you make quarterly payments of $1,635 at 4.2% compouded quarterly over a 3 year period. Round your answer to the nearest cent.

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Aliwohaish12 Aliwohaish12

20-05-2017

Pv=pmt [(1-(1+I/k)^(-kn))÷(I/k)]
Pv=1,635×((1−(1+0.042÷4)^(−4×3))÷(0.042÷4))=18,344.05

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