Present Value (PV) formula doubt
PV = FV / (1+r) to the power of n
r is the interest rate and n is the number of period.
What if the n is 1 year and interest rate is given as 10% semiannually.
Do we take these values as is and use in the above formula
we do some modifications as the preiod (n) is given as yearly and interest (r) is given as semianually.