SOLUTION: =$3,000(1+0.08)^-2 Answer = $2,572 How are they getting this answer? I am reading the chapter but I am not getting it.

SOLUTION: =$3,000(1+0.08)^-2 Answer = $2,572 How are they getting this answer? I am reading the chapter but I am not getting it.

Algebra.Com

Question 351881: =$3,000(1+0.08)^-2
Answer = $2,572
How are they getting this answer? I am reading the chapter but I am not getting it.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
$3,000(1+0.08)^-2
Answer = $2,572
---------------------
3000/(1.08)^2 = 2572.0165
================================
Cheers,
Stan H.
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