aliaisa1207 aliaisa1207

07-01-2021
Mathematics

contestada

Find the present value of the given future payment at the specified interest rate.
6000$ due in 2 years at
6.5% compounded daily

Respuesta :

imranhafeez73 imranhafeez73

07-01-2021

Answer:

6.5% of 6000$=6000$x6.5/100=390$

amount of interest = 390$x2=780$

Compound Interest

n=1, 2

Po=6000$

Pn=Po(1+r)^n

Pn=6000$1+6.5%)^n

Pn=6000$(1.065)^n

P1=6000$(1.065)^1=6390$

P2=6000$(1.065)^2=6805.35

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