SOLUTION: what is the present value of $500,000 at 11% compounded annually for 10 years

Algebra ->  Finance -> SOLUTION: what is the present value of $500,000 at 11% compounded annually for 10 years       Log On


   

Question 841311: what is the present value of $500,000 at 11% compounded annually for 10 years
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

 In General A+=+P%281%2Br%2Fn%29%5E%28nt%29

A = Accumulated Amount

P= principal = $500,000

r= annual rate = .11

n= periods per year = annually (1)

t= years = 10

A+=+500000%281.11%29%5E%2810%29