Assume that the cost of a university education will be $250,000 when Mr. Parata's child enters university in 12 years' time. If the discount rate is 6.76% per annum, compounded monthly, what is the present value (in 2 decimal places)?". Do not enter "$" in your answer. For example, enter "1000.23" for "$1000.23".

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.6P
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Assume that the cost of a university education will be $250,000 when Mr. Parata's child
enters university in 12 years' time. If the discount rate is 6.76% per annum,
compounded monthly, what is the present value (in 2 decimal places)?"
Do not enter "$" in your answer. For example, enter "1000.23" for "$1000.23".
Transcribed Image Text:Assume that the cost of a university education will be $250,000 when Mr. Parata's child enters university in 12 years' time. If the discount rate is 6.76% per annum, compounded monthly, what is the present value (in 2 decimal places)?" Do not enter "$" in your answer. For example, enter "1000.23" for "$1000.23".
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