Future Value. The future value of a Nonpurpose Receipt or Payment is calculated using the following formula: FV = PV (1 + i)(n) where FV = The future value of the Nonpurpose Receipt or Payment; PV = The amount of the Nonpurpose Receipt or Payment; i = Bond Yield for the Computation Period divided by the number of compounding intervals in a Bond Year; and n = The number of compounding intervals from the date of the Nonpurpose Receipt or Payment through the Computation Date.
Appears in 2 contracts
Sources: Tax Certificate and Regulatory Agreement (Intracel Corp), Tax Certificate and Regulatory Agreement (Intracel Corp)