SOLUTION: Find the present value ( the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $12,820.77 at 4.8% compounded annual

Question 625122: Find the present value ( the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated.
$12,820.77 at 4.8% compounded annually for 6 years
Answer by oscargut(2103) (Show Source): You can put this solution on YOUR website!
We want to find A
where:
12820.77 = A(1.048)^6
Then A =9677.13 (rounded to the nearest cent)
If you have any doubt or if you have more problems my e-mail is:
mthman@gmail.com
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