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Find the present value. Amount per Payment: $820 Payment at the End of Each: 6 months Number of Years: 14 Interest Rate: 5% Compounded: Semiannually

Find the present value. Amount per Payment: $820 Payment at the End of Each: 6 months Number of Years: 14 Interest Rate: 5% Compounded: Semiannually
asked 36.6k views
3 votes
Find the present value.

Amount per Payment: $820

Payment at the End of Each: 6 months

Number of Years: 14

Interest Rate: 5%

Compounded: Semiannually

asked
User Massie
by
8.5k points

1 Answer

4 votes
PVAO=820[(1-(1+0.05/2)^(-2*14))/(0.05/2)]
PVAO=16371.21
answered
User Marc Bacvanski
by
8.3k points
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