The TVM solver is a tool found in graphing calculators, that solve Time Value of Money problems.
The group of values that will return the same value as the given expression is;
D. N = 24; I% = 3.6; PV =; PMT = -415; FV = 0; P/Y = 12; C/Y = 12; PMT :END
What is Present Value?
Present value (PV) formula finds application in finance to calculate the present day value of an amount that is received at a future date.
In the TVM solver, we have;
I = The annual percentage rate
N = n × t
t = The number of years
PV = Present value
PMT = Payment
P/Y = Number of payments per year = n
C/Y = Number of compounding periods per year = n
The formula for monthly payment is presented as follows;
[tex]P = \frac{M[(1+r/n)^{nt} - 1]}{(r/n)(1+r/n)^{nt}}[/tex]
M = [tex]\frac{P.(r/n)(1+ r/n)^{nt} }{(1+ r/n)^{nt} - 1}[/tex]
Therefore, we get;
Where;
M = PMT = -415
P = PV
r = I
P/Y = n = 12
Therefore;
0.003 = I/12
I = 0.003 X 12 = 3.6%
N = n X t = 24
The value of the equation is the present value, PV = ?
When payment are made based on the PV, we have FV = 0
The group of values the same value as the expression
P = [tex]\frac{(415)[(1+0.003)^{24}-1]}{(0.003)(1+0.003)^{24}}[/tex]
when plugged into the TVM solver of a calculator is;
D. N = 24; I% = 3.6; PV =; PMT = -415; FV = 0; P/Y = 12; C/Y = 12; PMT :END
Learn more about Present Value Solver from:
brainly.com/question/1759639
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