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Calculate the present value of an investment that is compounded daily

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An investment will pay you $45,000 in 6 years. If the appropriate discount rate is 8% compounded daily, what is the present value?

Solve using a spreadsheet.

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Solution Summary

The solution presents a spreadsheet with clear explanations of how to use the Excel functions to solve the problem. Then the amounts are given for this problem to be inserted into the functions.

$2.19