T-Mobile LTE Done 11:39 AM * 51%. ezto.mheducation.com 1.00 points Complete the

Question

T-Mobile LTE Done 11:39 AM * 51%. ezto.mheducation.com 1.00 points Complete the following using the present value formula or financial calculator. (Do not round intermediate calculations. Round the "Periodic rate" to the nearest tenth percent Round your final answer to the nearest cent.) Length of period ofsme PV ofl amount desined at desired at 6.500 years 6% Serannaly References Book&Resources; Dfficulty Basic Leaming Objective: 19-02 (2) Compule present value using algebraic formulas and with a financial calo

Explanation / Answer

Period used (t) = 9*2 = 18

Periodic Rate(r) = 6%/2 = 3%

PV = FV/[(1 + r)^t] = $6,500 / (1.03^18) = $3,818.06

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