How much should be invested now at 7.55% compounded annually to have $46,000 in 12 years?

Answer 1

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

Answer 2

Po = 46,000/(1.0755^12) = $19,205.82 = Amt. invested now.