SOLUTION: To get $5600 after 3 years at 6% compounded annually

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Question 868282: To get $5600 after 3 years at 6% compounded annually
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
To get $5600 after 3 years at 6% compounded annually
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FV = PV*1.06^3
5600 = PV*1.06^3
PV = 5600/(1.06^3)
PV =~ $4701.87