Answered: Find the present value PV of the given…

Find the present value PV of the given investment (in dollars). (Round your answer to the nearest cent.) An investment earns 4% per year and is worth $70,000 after 9 years. PV = $

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter4: Exponential Functions

Section4.2: Constant Percentage Change

Problem 29SBE: Round each percentage increase or decrease that you calculate to the nearest tenth of a percent....

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Question

Find the present value PV of the given investment (in dollars). (Round your answer to the nearest cent.)
An investment earns 4% per year and is worth $70,000 after 9 years.
PV = $

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