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Complete the following using present value. Amount desired at end of period Length of time Rate...

Complete the following using present value.

Amount desired at end of period Length of time Rate Compounded On PV Table PV factor used PV of amount desired at end of period
Period used Rate used
$9,400 4 years 12% Monthly ? ?% ? $?
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Answer #1
On PV Table
Amount desired at end of period Length of time Rate Compounded Period used Rate used PV factor used PV of amount desired at the end of priod
$ 9,400 4 Years 12% Monthly 48 1%               0.62026 $ 5,830.45
Working:
PV factor used = (1+i)^-n Where,
= (1+0.01)^-48 i 12%/12 = 1%
= 0.62026 n 4*12 = 48
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