document.write( "Question 47849This question is from textbook College Algebra
\n" ); document.write( ": Find the present value of $100,000 if interest is paid at a rate of 8% per year, compounded monthly, for 5 years.\r
\n" ); document.write( "\n" ); document.write( "I used the formula: 100,000 = P(1+ 0.08/12)^(12)(5) = 66,979.24.\r
\n" ); document.write( "\n" ); document.write( "Does this sound about right? I'm having trouble with the e function on the calculator. \r
\n" ); document.write( "\n" ); document.write( "Thank you very much! \n" ); document.write( "

Algebra.Com's Answer #31669 by Nate(3500) $\"\"$ $\"About$

You can put this solution on YOUR website!
100,000(1 + 0.08/12)^(12*5) = 148,984.57 \n" ); document.write( "

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