Time remaining:
exponential funtions

Mathematics
Tutor: None Selected Time limit: 0 Hours

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

Are you studying on the go? Check out our FREE app and post questions on the fly!
Download on the
App Store
...
Apr 16th, 2015
...
Apr 16th, 2015
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