Find the present value of $20,000 over a term of 4 years at an annual interest rate of 6% if interest is compounded as indicated. Round all answers to the nearest cent. Part 1 out of 4 a. Annually The present value of the investment for a term of 4 years if the interest is compounded annually is

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.6: Other Types Of Equations
Problem 9ECP: You deposit $2500 in a long-term investment in which the interest is compounded monthly. After 5...
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Find the present value of $20,000 over a term of 4 years at an annual interest rate of 6% if
interest is compounded as indicated. Round all answers to the nearest cent.
Part 1 out of 4
a. Annually
The present value of the investment for a term of 4 years if the interest is compounded annually is
Transcribed Image Text:Find the present value of $20,000 over a term of 4 years at an annual interest rate of 6% if interest is compounded as indicated. Round all answers to the nearest cent. Part 1 out of 4 a. Annually The present value of the investment for a term of 4 years if the interest is compounded annually is
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