9514 1404 393
Answer:
4254.31
Step-by-step explanation:
The compound interest multiplier is ...
m = (1 +r/n)^(nt) . . . . annual rate r compounded n times per year, t years
For 11% compounded quarterly for 18 years, the multiplier is ...
m = (1 +0.11/4)^(4·18) = 1.0275^72 ≈ 7.0516671
If 30,000 is the future value, then the present value is ...
PV = FV/m = 30,000/7.0516671
PV ≈ 4254.31
