Asked by Finance
I have been promised a $25,000 car when i graduate in four years. If money earns 7% interest, what is my promise worth now?
Answers
Answered by
anon
If simple interest,
I = PRT
I = 25000(0.07)(4)
I = ?
25000 + ? (interest) = value in 4 yrs
I = PRT
I = 25000(0.07)(4)
I = ?
25000 + ? (interest) = value in 4 yrs
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