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1 year ago

14

An investment will pay $18,219 in 16 years. If the interest rate is 11.09%, how much is it worth today? (Round to 2 decimal plac

es.)

1 answer:

Alex73 [517]1 year ago

8 0

18219 * (1 + 11.09%)^16 = ?

18219 * (1.1109)^16 = ?

? = 18224.380213

ANSWER = $18224.38

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