Answer:
$990.95
Step-by-step explanation:
The computation of the present value or the invested amount is given below:
Given that
NPER = 18 × 365 days
RATE = 6.6% ÷ 365
FV = $3,250
PMT = $0
The formula is shown below:
= -PV(RATE;NPER;PMT;FV;TYPE)
AFter applying the above formula, the present value is $990.95
