in this problem present value formula is used show all work and vocabulary words
present value formula P=A(1+r)^-n
desired item trip to hawaii
cost in 12 yrs 19,300
interest rate is 8%
vocab power, reciprocal, negative exponent, position, rules exponents
19300*(1+.08)^ (-12)=19300*0.397114= 7664.30
1.08^(-12) reciprocal of (1.08)^12
12 is power
-12 is negative exponent
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