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Bill wants to give Maria a $500,000 gift in seven years. If money is worth 6% compounded semiannually, what is Maria's gift worth today

Respuesta :

facundobuzzetti

Answer:

PV= $332,528.56

Explanation:

Giving the following information:

Future value= $500,000

Number of periods= 7 years

Discount rate= 6% compounded annually

To calculate the present value, we need to use the following formula:

PV= FV/(1+i)^n

PV=  500,000 / (1.06^7)

PV= $332,528.56

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