Question 1057800: Calculate the present value. (Round your answer to two decimal places.)
A = $30,000, r = 15% compounded quarterly, t = 16 years
Answer by solve_for_x(190)   (Show Source):
You can put this solution on YOUR website! Assuming that A = $30,000 is the future value (FV), then the present value (PV) can be calculated from:
where r is the annual interest rate, n is the number of periods per year, and t is the number of years.
With FV = 30,000, r = 0.15, n = 4, and t = 16, the equation can be written as:
PV = $2,843.69
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