Using Table 11-2 from Your Text, Calculate the Present Value

question 45

Short Answer

Using Table 11-2 from your text, calculate the present value (principal) and the compound interest for the following investment, rounding to the nearest cent. $$\begin{array} { l l l l l l } \text { Compound } & \text { Term of } & \text { Nominal } & \text { Interest } & \text { Present } & \text { Compound } \\\text { Amount } & \text { Investment } & \text { Rate } & \text { Compounded } & \text { Value } & \text { Interest } \\\$ 10,500 & 1 \frac{1}{2} \text { years } & 18\% & \text { monthly } &------ &------- \\\end{array}$$

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