Answer:yes they do
Step-by-step explanation:
The answer should be 6.80
Answer:
$6,322.11
Step-by-step explanation:
The future value of a lump sum (S) invested today at an interest rate 'r' for a period of 'n' years, if interest is compounded annually is:
In order to obtain $11,200 after 6 years, the required investment at a 10% rate per year is:
You need to deposit $6,322.11 today in order to reach your goal in 6 years.
You have to plug in one of the y for y = and then solve the equation .