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densk [106]
3 years ago
5

the present value that must be invested to get $1,000 after 6 years at the interest rate of 11.5% is $ round up to the nearest c

ent
Mathematics
1 answer:
SSSSS [86.1K]3 years ago
4 0
The future worth (F) of the current investment (P) given that the interest (i) is compounded can be calculated by the formula,
                                F = P x (1 + i)^n
where n is the number of years. Substituting the given values to solve for P,
                             1000 = P x (1 + 0.115)^6
The value of P is approximately $520.42.
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