How to solve this sum on your financial calculator?
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Hello!
Correct answer to your question is option C
Explanation :
PI = PV/II(initial investment)
therefore, on calci-
N=7, I/Y=10,PMT = 115, and FV=50 and P/Y=C/Y=1
CPT PV
PV= 585.53
Hence
PV/II = PI = 1.56
Thank you!
Hope it helps!