Answer: (740)((1+0.0065)^132-1)/(0.0065)(1+0.0065)^132
Step-by-step explanation:
The value of the present value of the given is 65440.1194.
We have given that,
The following group of values was entered into the TVM Solver of graphing.
calculator. N = 132; 1% = 7.8; PV = ; PMT = - 740; FV = 0; P/Y = 12; C/Y = 12;
[tex]PV=FV/(1+i)^n[/tex]
[tex]=\frac{740\left(\left(1+0.0065\right)^{132}-1\right)}{0.0065\left(1+0.0065\right)^{132}}[/tex]
[tex]=\frac{740\left(\left(1+0.0065\right)^{132}-1\right)}{0.0065\left(1+0.0065\right)^{132}}[/tex]
[tex]=\frac{1000.40602\dots }{0.0065\cdot \:1.0065^{132}}[/tex]
[tex]=65440.11940[/tex]
Therefore, The value of the present value of the given is 65440.1194.
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