SOLUTION: Suppose you wish to have $15,000 in 19 years. Use the present value formula to find how much you should invest now at 9% interest, compounded annually in order to have $15,000, 19

SOLUTION: Suppose you wish to have $15,000 in 19 years. Use the present value formula to find how much you should invest now at 9% interest, compounded annually in order to have $15,000, 19

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Question 977777: Suppose you wish to have $15,000 in 19 years. Use the present value formula to find how much you should invest now at 9% interest, compounded annually in order to have $15,000, 19 years from now.
a. $2,917.35
b. $9,165.30
c. $12,082.65
d. $1,350.00
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
a. $2,917.35
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