Time remaining:
need help with this problem

Algebra
Tutor: None Selected Time limit: 0 Hours

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

Nov 14th, 2014

19300*(1+.08)^ (-12)=19300*0.397114= 7664.30

Answer: $7664.30 

1.08^(-12) reciprocal of (1.08)^12

12 is power

-12 is negative exponent


Nov 14th, 2014

Are you studying on the go? Check out our FREE app and post questions on the fly!
Download on the
App Store
...
Nov 14th, 2014
...
Nov 14th, 2014
Dec 4th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer