document.write( "Question 1018050: you saved $25000 to buy a new car in time for graduation in 2020. in 2010 you invested in a certain amount of your savings in a blue chip stock that yields 5% interest compounded monthly. find out much money you started with before you saved enough to buy a new car.
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Algebra.Com's Answer #689970 by MathTherapy(10557) $\"\"$ $\"About$

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\n" ); document.write( "you saved $25000 to buy a new car in time for graduation in 2020. in 2010 you invested in a certain amount of your savings in a blue chip stock that yields 5% interest compounded monthly. find out much money you started with before you saved enough to buy a new car.
\n" ); document.write( "Please help.
\n" ); document.write( "Thank you
\n" ); document.write( "

Present Value formula: , where:
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document.write( " Present Value of initial investment (Unknown, in this case)
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document.write( " Future Value of initial investment ($25,000, in this case)
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document.write( " Annual Interest rate (5%, or .05, in this case)
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document.write( " Number of ANNUAL compounding periods (monthly, so 12, in this case)
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document.write( " Time, in years (10, in this case)
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document.write( " then becomes:  \n" );
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