Find the Present Value of $70,000 Due in 4 Year(s)

question 242

Essay

Find the present value of $70,000 due in 4 year(s) at the given rate of interest. Round your answers to the nearest dollar.
6% / year compounded monthly
$__________
9% / year compounded daily
$__________

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Definitions:

CCA Rate

Stands for Capital Cost Allowance rate, which is the rate at which a business can claim depreciation on capital assets for tax purposes in Canada.

UCC

An abbreviation for the Uniform Commercial Code, a set of laws governing sales and commercial transactions in the United States.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, representing how much of the asset's value has been used up during the period.

Net Capital Spending

The total expenditure on fixed assets less any sales of fixed assets.