SOLUTION: What is the present value of $3000 compounded montly at 6% for 7 years? I answered 3000/(1+.06/12)^84= 1973.20 or 2532.60.

SOLUTION: What is the present value of $3000 compounded montly at 6% for 7 years? I answered 3000/(1+.06/12)^84= 1973.20 or 2532.60.

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Question 205221: What is the present value of $3000 compounded montly at 6% for 7 years?
I answered 3000/(1+.06/12)^84= 1973.20 or 2532.60.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
1973.20 is correct
Cheers,
Stan H.
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