SOLUTION: Determine the present value P you must have to invest in the future value A at simple interest rate R after time T.
A=$9500.00 r-%11.0 t-5 years
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Question 1000936: Determine the present value P you must have to invest in the future value A at simple interest rate R after time T.
A=$9500.00 r-%11.0 t-5 years
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Determine the present value P you must have to invest in the future value A at simple interest rate R after time T.
A=$9500.00 r-%11.0 t-5 years
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A(t) = P(1+r*t)
9500 = P(1+0.11*5)
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9500 = P(1.55)
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P = $6129.03
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Cheers,
Stan H.
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