SOLUTION: Find the present value. Round to the nearest cent, To get $10,500 after 8 years at 10% compounded annually.

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: Find the present value. Round to the nearest cent, To get $10,500 after 8 years at 10% compounded annually.      Log On


   

Question 1129520: Find the present value. Round to the nearest cent, To get $10,500 after 8 years at 10% compounded annually.
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
10500=PV(1.1)^8
10500=2.1436*PV
divide by constant without having rounded it (which I did here to save writing it all)
PV=$4898.33