Asked by 123
If you will need $25,000 to buy a new truck in 3 years, how much should you invest now at
an interest rate of 10% compounded annually?
an interest rate of 10% compounded annually?
Answers
Answered by
oobleck
P * 1.10^3 = 25000
P = 25000/1.10^3 = 18782.87
P = 25000/1.10^3 = 18782.87
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