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12345 [234]
2 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.)
Mathematics
1 answer:
musickatia [10]2 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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