SOLUTION: plzz help for this problem What amount today is economically equivalent to $13,100 paid 29 months from now if money is worth 10.8% compounded monthly? (Do not round intermediate

Question 1021561: plzz help for this problem
What amount today is economically equivalent to $13,100 paid 29 months from now if money is worth 10.8% compounded monthly? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Amount today $
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
Use the compound balance/amount formula:
==> ==>
==>
Therefore the future value of $13,100 is equivalent to $10,102.47 today.
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