Questions on Word Problems: Evaluation, Substitution answered by real tutors!

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Question 148628This question is from textbook
: The present value P that will amount to A dollars in N years with interests compounded annually at an interest rate R is given by
Find the present value that will amount to 50,000 in 20 years at 8% compounded annually
This question is from textbook
: The present value P that will amount to A dollars in N years with interests compounded annually at an interest rate R is given by
Find the present value that will amount to 50,000 in 20 years at 8% compounded annually

Answer by checkley77(3624) About Me  (Show Source):
You can put this solution on YOUR website!
p(1+r)^t
50,000(1+.08)^20
50,000(1.08)^20
50,000*4.66=$233,047.86 amount of the investment after 20 years.