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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

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Nov 14th, 2014
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