Use the present value table to complete: (Round the "PV factor answer to 4 decimal places.) Future Amount Rate Length of Time Table Periods Desired Compounded 12,000 12 yrs 12% semiannually Rate Used P.V. Factor P.V. Amount %
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Step 1
Since the length of time is given as 12 years and the compounding is semiannually (twice a year), we need to multiply the number of years by the number of compounding periods per year. In this case, it would be 12 years * 2 periods per year = 24 periods. Show more…
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