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exponential funtions

Mathematics
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Find the present value of P of a future amount of A= $3500 invested at 6% compounded annually for 3 Years

Apr 16th, 2015

If r = 6% = 0.06 is the annual rate and n= 3 is the number of years, then A = P·(1 + r)n and the present value is P = A/(1 + r)n = 3500 / (1.06)3 = $2938.67.


Apr 15th, 2015

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Apr 16th, 2015
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Apr 16th, 2015
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