Question

Determine the present value of rs. 700 eachpaid at the end of each of the next 6 years.Assume 8% interest rate

Answer 1

Answer:

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Answer 2

Answer:

88.35

Step-by-step explanation:

Fv = 700

n = 6

I = 0.08

700 = pv [(1.08)^6+(1.08)^5+(1.08)^4+(1.08)^3+(1.08)^2+1.08

700 = 7.9228 Pv

Pv = 88.35