Question

Can someone please help me. I’ll mark you brainiest.

Answer 1

Answer:

$47,682.78

Step-by-step explanation:

future value: F = $64,700

present value: P = x

annual interest rate: r = 2.18%

compounding periods per year: n = 365

$F = P(1 + \dfrac{r}{n})^{nt}$

$64,700 = P(1 + \dfrac{0.0218}{365})^{365 \times 14}$

$64,700 = P(1 + 0.0000597260274)^{5110}$

$64,700 = P(1.0000597260274)^{5110}$

$64,700 = P(1.356883989)$

$P = 47,682.78$

Answer: $47,682.78