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Moving to the next question prevents changes to this answer Question 6 Determine the numerical value of the following factors using the formula (P F. 8.4%,15) next question prevents changes to this answer

Solution

We see that the rate of interest is 8.4%, time period is 15. Find the value of the factor

(P/F, 8.4%, 15)

= (1 + 8.4%)^(-15)

= 0.29824

This is the required numerical value of the factor (P/F, 8.4%, 15)