Question
rosa needs $4,000in three years to make a down payment on a car how much must she invest today is she reeceives 0.5% interest annually compounded annually.
Answers
P(1.005)^3 = 4000
P = 4000/(1.005)^3
= 3940.60
P = 4000/(1.005)^3
= 3940.60