An investment will pay you $58,000 in seven years. If the appropriate discount rate is 10% compounded daily, what is the present value?

An investment will pay you $58,000 in seven years. If the appropriate discount rate is 10% compounded daily, what is the present value?

An investment will pay you $58,000 in seven years. If the appropriate discount rate is 10% compounded daily, what is the present value?Solution:We have FV = $58,000, I = 10%, n = 7 years and m =…