Answer:
x=50 y=10
Step-by-step explanation:
Answer:
16875.98
Step-by-step explanation:
6000(1+(0.09/1)^1*12 = 16875.98
Answer:
PV= $3,402.9
Step-by-step explanation:
Giving the following formula:
Future Vale (FV)= $5,000
Number of years (n) 5 years
Interest rate (i)= 8.5% compounded annually
<u>To calculate the initial investment (PV), we need to use the following formula:</u>
PV= FV / (1 + i)^n
PV= 5,000 / (1.085^5)
PV= $3,402.9
