Calc
posted by Carl .
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?

a) PV = 1400(1.01)^18
= ....
b) PV = 1400(1.025)^18
= ....