Calculate the present value PV (in dollars) 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.) 5 years, depreciating 3% each year

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.3: Geometric Sequences
Problem 80E
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Calculate the present value PV (in dollars) 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.)
5 years, depreciating 3% each year
PV = $
Transcribed Image Text:Calculate the present value PV (in dollars) 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.) 5 years, depreciating 3% each year PV = $
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