Finding present value of future amount

C

charlesjoy

New member
Joined
Mar 26, 2009
Messages
38
Good afternoon. Here is my problem and what I have done thus far. Can you help?

$1200 for 315 days; money earns 7%

1200/1+(.07)(315/365) = 1200/1.06 = 1132.075


Is this correct?
 
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