Answer
$66780$
Work Step by Step
$FV=1000000, r=0.07, m=1, t=40$
$FV=PV(1+\frac{r}{m})^{mt}$
$1000000=PV(1+0.07)^{40}$
$PV=\frac{1000000}{14.97}=66780$
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.