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Nady [450]
3 years ago
12

Use the present value formula to determine the amount to be invested​ now, or the present value needed.

Mathematics
1 answer:
rjkz [21]3 years ago
8 0

Answer:

Present value is $29,086.21.

Step-by-step explanation:

PV =\frac{40000}{(1+\frac{0.029}{12} )^{11*12} }=29,086.21

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------- = -----  is the relevant equation here.  We don't ask, "What is 7+3t over
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