Calculate the present value PV of an investment that will be worth $1,000 at the stated interest rate after the stated amount of time. (Round your answer to the nearest cent.) 16 years, at 4% per year, compounded annually PV = $
Calculate the present value PV of an investment that will be worth $1,000 at the stated interest rate after the stated amount of time. (Round your answer to the nearest cent.) 16 years, at 4% per year, compounded annually PV = $
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.2: Exponential Functions
Problem 49E
Question
Calculate the present value PV of an investment that will be worth $1,000 at the stated interest rate after the stated amount of time. (Round your answer to the nearest cent.)
16 years, at 4% per year, compounded annually
PV = $
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