What is the present value (PV) of monthly payments of $100 for 13 years and 6 months assuming an interest rate of 7.25% compounded monthly? For full marks, your answer(s) should be rounded to the nearest cent. PV = $0.00
Added by Ana E.
Step 1
Total number of payments = 13 years * 12 months/year + 6 months = 156 + 6 = 162 payments Show more…
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