SOLUTION: Find the principal needed now to get the given​ amount; that​ is, find the present value. To get $1000 after 3 1/2 years at 6​% compounded The present value of 1000 is

Algebra ->  Finance -> SOLUTION: Find the principal needed now to get the given​ amount; that​ is, find the present value. To get $1000 after 3 1/2 years at 6​% compounded The present value of 1000 is      Log On


   



Question 1201779:
Find the principal needed now to get the given​ amount; that​ is, find the present value.
To get $1000 after 3 1/2 years at 6​% compounded
The present value of 1000 is ?

Answer by josgarithmetic(39621) About Me  (Show Source):
You can put this solution on YOUR website!
What is the length of one compounding period?