Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.
-$\$ 25,162$ for 147 days; money earns $6.8 \%$
A) $\$ 24,491.27$
B) $\$ 670.73$
C) $\$ 23,559.93$
D) $\$ 24,495.72$

Question

Quizplus · Accepted Answer

The present value is calculated using the formula $ PV = \frac{FV}{(1 + \frac{r \times t}{365})} $. Here, $ FV = 25162 $, $ r = 0.068 $, and $ t = 147 $. Plugging in these values, the present value is approximately $\$ 24,491.27$.

Find the Present Value of the Future Amount $25,162\$ 25,162$25,162 For 147 Days; Money Earns

Find the Present Value of the Future Amount $\$ 25,162$ For 147 Days; Money Earns