document.write( "Question 1033136: Use the present value formula to determine the amount to be invested now or the present value when needed. the desired accumulated amount is $4200 after 9 years invested in an account with 4% interest compounded annually. \n" ); document.write( "

Algebra.Com's Answer #647912 by LinnW(1048) $\"\"$ $\"About$

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$\"4200+=+%281%2B+0.04%29%5E9%2Ap\"$
\n" ); document.write( "where p is the original amount
\n" ); document.write( " $\"4200+=+1.04%5E9%2Ap\"$
\n" ); document.write( "1.04^9 = approximately 1.423
\n" ); document.write( " $\"4200+=+1.423%2Ap\"$
\n" ); document.write( "divide each side by 1.423
\n" ); document.write( "2951.50 approximately \n" ); document.write( "

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