Answer:
PV= $40,279.36
Step-by-step explanation:
Giving the following information:
Number of periods= 8*12= 96 months
Interest rate= 0.039/12= 0.00325
Future value (PV)= $55,000
<u>To calculate the initial investment, we need to use the following formula:</u>
PV= FV/(1+i)^n
PV= 55,000 / (1.00325^96)
PV= $40,279.36
Answer:Please include images of the graphs!
It is 28350 merry Christmas
