Asked by RENTO

How much should be invested now at 7.55% compounded annually to have $46,000 in 12 years?
Answered by bobpursley
46000=P(1.0755)^12
take the ln of each side
ln46000=ln P+12ln(1.0755)
lnP=ln(46000)-12ln(1.0755)
using the google calculator in the google search window:
ln(46000)-12ln(1.0755)=9.86296864
than taking the antilog,
P=e^9.86296864=19206 about
Answered by Henry
Po = 46,000/(1.0755^12) = $19,205.82 = Amt. invested now.
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