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.) 4 years, at 12% per year, compounded annually PV = $ Need Help? Read It Watch It

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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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.)
4 years, at 12% per year, compounded annually
PV = $
Need Help?
Read It
Watch It
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.) 4 years, at 12% per year, compounded annually PV = $ Need Help? Read It Watch It
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