The formula is
A=p (1+r)^t
A future value?
P present value 160000
R interest rate 0.16
T time 3years
A=160,000×(1+0.16)^(3)
A=249,743.36
Use that future value to find the present value at a rate 8% compounded annually
To find p (present value) solve the formula for p
P=A÷ (1+r)^t
Where r is 0.08
P=249,743.36÷(1+0.08)^(3)
p=198,254.33
n > 13
Step-by-step explanation:
n-8> 5=
Add 8 to both sides.
n > 5 + 8
Add 5 and 8 to get 13.
<u>n > 13</u>
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