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17 April, 09:53

Find the present value that will grow to $7000 if the annual interest rate is 3.5% compounded quarterly for 9 uears

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  1. 17 April, 10:29
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    PV=FV / (1+i) ^t

    FV=7000, i=3.5%=0.035, t=9

    put everything in the formula

    PV=7000 / (1+0.035) ^9

    PV=$5136.12
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