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Find the present value of $14000 due in 9 years at the given rate of interest.

(a) 2%/year compounded semiannually?

(b) 5%/year compounded semiannually?

1 answer

a) PV = 1400(1.01)^-18
= ....

b) PV = 1400(1.025)^-18
= ....

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