Question

Present value of 65,000 at 11% compounded for 4years

Answer 1

Answer:

A = 98,674.58

A = P + I where

P (principal) = 65,000.00

I (interest) = 33,674.58

Step-by-step explanation:

Calculation Steps:

First, convert R as a percent to r as a decimal

r = R/100

r = 11/100

r = 0.11 rate per year,

Then solve the equation for A

A = P(1 + r/n)^nt

A = 65,000.00(1 + 0.11/1)^1×4

A = 65,000.00(1 + 0.11)^(4)

A = 98,674.58

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