SOLUTION: Find the present value of the following future amount. $400,000 at 8% compound annually for 30 years

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Question 1202664: Find the present value of the following future amount.
$400,000 at 8% compound annually for 30 years
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
Just use the PV formula and plug in the values

PV=%28FV%29%2F%281%2Bi%29%5En

FV=400000
r= 8%= 0.08
n =30

PV=%28400000%29%2F%281%2B0.08%29%5E30

=$39750.93