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What is the Present Value of 8000 KWD in 3 years if bank pay 15% interest semi-annually?
What is the Present Value of 8000 KWD in 3 years if bank pay 15% interest semi-annually?
Expert Solution
Present value = Future value / ( 1 + r/2)^n * 2
As it is semiannual so the yearly rate is divided by 2 to make it semiannual.
= 8000 / ( 1 + 15%/2)^3*2
= 5,183.69
The Ptresent value is $5,183.69
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