Landon is going to invest in an account paying an interest rate of 6.6% compounded daily. How much would Landon need to invest,

Question

3 years ago

6

to the nearest dollar, for the value of the account to reach $3,250 in 18 years?

2 answers:

mr_godi [17] · Answer 1 · 2022-10-21T03:39:18+03:00

Answer:

$990.95

Step-by-step explanation:

The computation of the present value or the invested amount is given below:

Given that

NPER = 18 × 365 days

RATE = 6.6% ÷ 365

FV = $3,250

PMT = $0

The formula is shown below:

= -PV(RATE;NPER;PMT;FV;TYPE)

AFter applying the above formula, the present value is $990.95

hammer [34] · Answer 2 · 2022-10-21T06:05:32+03:00

5 0

Answer:

the answer is 991 when rounded to the nearest dollar

Step-by-step explanation: