SOLUTION:
Find the principal needed now to get the given amount; that is, find the present value.
To get $1000 after 3 1/2 years at 6% compounded
The present value of 1000 is
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Question 1201779:
Find the principal needed now to get the given amount; that is, find the present value.
To get $1000 after 3 1/2 years at 6% compounded
The present value of 1000 is ?
Answer by josgarithmetic(39623) (Show Source): You can put this solution on YOUR website!
What is the length of one compounding period?
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