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Unformatted text preview: c. $37,576.16 d. $36,892.25 e. $34,938.02 Correct Answer: $35,117.91 Algebraic Solution: PV = C[(11/[(1 + r ) t ])/r] Solving for PV, we get: PV = 5,000[(11/[(1.07) 10 ])/.07] PV = 5,000(7.02358154) PV = 35,117.90770 Calculator Solution: 10 735,117.90770 5,000 N I/Y PV PMT FV or 35,117.91, since it is impossible to deposit $35,117.90770 in a bank. Notes: none...
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 Spring '08
 LAPLANTE
 Corporate Finance, Interest, minimum onetime deposit

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