# math

Find the present value of \$9000 due at the end of 18 years at 11% per annum compounded quaterly????

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1. r=11%/4=0.0275 per quarter
n=18*4 quarters=72 quarters
FV=PV*(1+r)n
PV=FV/(1+r)n
=9000/(1.0275)72
=9000/7.0517
=1276.29

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