document.write( "Question 1153424: find the present value of an investment if the future value is $9,243.87 and the investment earns 7.0% apr for 7 years compounded weekly \r
\n" ); document.write( "\n" ); document.write( "a. $6,669.37
\n" ); document.write( "b. $5,664.91
\n" ); document.write( "c. $5,756.62
\n" ); document.write( "d. $15,083.95
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Algebra.Com's Answer #775635 by MathLover1(20850)\"\" \"About 
You can put this solution on YOUR website!
Compound Interest Formula\r
\n" ); document.write( "\n" ); document.write( "\"FV+=+PV%281%2Br%2Fn%29%5E%28Yn%29\"\r
\n" ); document.write( "\n" ); document.write( "where
\n" ); document.write( "\"PV\"= is the present value
\n" ); document.write( "\"r=0.07\" (is the annual interest rate),
\n" ); document.write( "\"Y=7\" is the number of years invested
\n" ); document.write( "\"n+=52\" is the number of compounding periods per year.
\n" ); document.write( "\"FV=+9243.87\" is the future value, meaning the amount the principal grows to after \"7\" years \r
\n" ); document.write( "\n" ); document.write( "\"FV=PV%281%2Br%2Fn%29%5E%28Yn%29\"\r
\n" ); document.write( "\n" ); document.write( "\"9243.87=P%281%2B0.07%2F52%29%5E%287%2A52%29\"\r
\n" ); document.write( "\n" ); document.write( "\"9243.87=PV%281.001346%29%5E%28364%29\"\r
\n" ); document.write( "\n" ); document.write( "\"9243.87=PV%281.631687%29\"\r
\n" ); document.write( "\n" ); document.write( "\"PV=9243.87%2F1.631777027349066%29\"\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "\"PV=5665\"\r
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\n" ); document.write( "\n" ); document.write( "answer: b. $\"5664.91\" rounded it's \"5665\"\r
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