Find the Present Value of a Future Value of $5,000

question 38

Short Answer

Find the present value of a future value of $5,000 due in 7 years at a nominal rate of 3% compounded quarterly.

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Definitions:

Water Vascular System

A unique hydraulic system used by echinoderms, such as starfish, for locomotion, food and water transportation, and respiration.

Exoskeleton

A rigid external covering for the body in some invertebrate animals, especially arthropods, providing both support and protection.

Bony Tissue

Hard tissue that makes up the skeletal bones in vertebrates, providing support, protection, and enabling mobility.

Echinodermata

A phylum of marine animals characterized by radial symmetry, a water vascular system, and typically a spiny skin.