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3 years ago

15

What is the present value of an investment that will be worth $6000 at the end of five years? Assume an APR of 6% compounded mon

thly. (Round your answers to the nearest cent.)

1 answer:

musickatia [10]3 years ago

4 0

Answer:

4448.23

Step-by-step explanation:

$AV=PV(1+\frac{i}{n})^{nt}\\\\6000=PV(1+\frac{.06}{12})^{5*12}\\\\6000=PV*1.3488\\\\PV= 4448.23$

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