SOLUTION: An investment earns 2% per year and is worth $10,000 after 5 years. Find the present value of the investment. (Round your answer to the nearest cent.)

Algebra ->  Finance -> SOLUTION: An investment earns 2% per year and is worth $10,000 after 5 years. Find the present value of the investment. (Round your answer to the nearest cent.)       Log On


   

Question 322417: An investment earns 2% per year and is worth $10,000 after 5 years. Find the present value of the investment. (Round your answer to the nearest cent.)

Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
10,000(1+.02)^5
10,000(1.02)^5
10,000*1.104=$11,040.81 ans.