0.2 repeating is 0.2222222222...
so you have to put the repeating digit(s) divided by 9's
Then it will be 2/9 which yields 0.222222222.....
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
Answer:
683
Step-by-step explanation:
