Calculate how much would have to be invested in order to have $48712.10 after two years if the investment paid a rate of 9 percent compounded annualy for two years.

PV ==FV / [1 + R]^N

PV ==48712.10 / [1 + 0.09]^2

PV ==48712.10 / 1.09^2

PV ==48712.10 / 1.1881

PV ==$41,000.00 - what must be deposited today