Exam (elaborations)
Math 120 Final
- Course
- Institution
Math 120 Final Verified 100% 7. Four years ago, Jane invested some money in an account earning 8% interest compounded annually. She now has $22530.56, What amount did she originally invest? - Solution 7: PV=? FV=22,530.56 t=4 r=.08 m=1 PV= FV/(1+r/m)^mt ; PV=22530.56/(1+.08/t)^1(4) = 1...
[Show more]