SOLUTION: find the present value of an investment if the future value is $9,243.87 and the investment earns 7.0% apr for 7 years compounded weekly
a. $6,669.37
b. $5,664.91
c. $5,756.6
Algebra.Com
Question 1153424: find the present value of an investment if the future value is $9,243.87 and the investment earns 7.0% apr for 7 years compounded weekly
a. $6,669.37
b. $5,664.91
c. $5,756.62
d. $15,083.95
Answer by MathLover1(20850) (Show Source): You can put this solution on YOUR website!
Compound Interest Formula
where
= is the present value
(is the annual interest rate),
is the number of years invested
is the number of compounding periods per year.
is the future value, meaning the amount the principal grows to after years
answer: b. $ rounded it's
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