Asked by teresa
calculate the present value (principal) and compound interest on $900 (term of investment 1.75 years ) rate of 18% compounded monthly
Answers
Answered by
Reiny
1.75 years = 21 months
monthly rate = .18/12 = .015
PV = 900(1.015)^-21 = $658.35
monthly rate = .18/12 = .015
PV = 900(1.015)^-21 = $658.35
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