The present value of a sum of money is the amount that must be invested now, at a given rate of interest, to produce the
Posted: Fri Jul 01, 2022 5:29 am
The present value of a sum of moneyis the amount that must be invested now, at a given rate ofinterest, to produce the desired sum at a later date.Find the present value of $10,000 if interest is paid at a rateof 6% per year, compounded semiannually,for 5 years. (Round your answer up to the nearestcent.)