SOLUTION: Find the present value. Round to the nearest cent, To get $10,500 after 8 years at 10% compounded annually.

SOLUTION: Find the present value. Round to the nearest cent, To get $10,500 after 8 years at 10% compounded annually.

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Question 1129520: Find the present value. Round to the nearest cent, To get $10,500 after 8 years at 10% compounded annually.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
10500=PV(1.1)^8
10500=2.1436*PV
divide by constant without having rounded it (which I did here to save writing it all)
PV=$4898.33
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