6-11 Solution - Excel Formula: =PV(rate,nper,pmt,fv,type)...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 6 Question 11 Data PMT ($1,000) nper 8 rate 9% PV ??? Calc Excel Formula: =PV(rate,nper,pmt,fv,type) Numerical Formula Solution: =PV(9%,8,-1000) $5,535 Cell Reference Formula Solution: =PV(B10,B9,B8) $5,535 bank loss by allowing payments at the end of the year
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Excel Formula: =PV(rate,nper,pmt,fv,type) Numerical Formula Solution: =PV(9%,8,-1000, ,1) $6,033 Cell Reference Formula Solution: =PV(B10,B9,B8, , 1) $6,033 Bank loss $498...
View Full Document

Ask a homework question - tutors are online