23sedehik 23sedehik

16-02-2022
Mathematics

contestada

Find the present value that will grow to $7000 if the annual interest rate is 8.5% compounded quarterly for 8 yr.

Respuesta :

brainsoft brainsoft

16-02-2022

Answer:

Present value is $13,444.2

Step-by-step explanation:

[tex]{ \rm{A=P(1 + \frac{r}{100}) {}^{n} }} \\ \\ { \rm{A = 7000(1 + \frac{8.5}{100}) {}^{8} }} \\ \\ { \rm{A = 13444.2}}[/tex]

Answer Link

Otras preguntas

What does the judicial branch do?

We elect a U.S. Senator for how many years?

What does the judicial branch do?

Which terms identify types of chemical reactions? (1) decomposition and :sublimation (2) decomposition and synthesis (3) deposition and sublimation (4) depositi

Who does a U.S. Senator represent?

What does the President’s Cabinet do?

Compared to the physical and chemical properties of the compound NO2 the compound N2O has (1) different physical properties and different chemical properties (2

Who was President during World War I?

The price of play equipment for the school has just been reduced by 25%. The new , reduced price of the play equipment is 1500. What is the original price befor

the sum of two integers is -1. the product of the integers is -72 find the integers.