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find the sum invested that will return as $230000 after 5 years at a rate of 5.5% compounded anually

Guest Mar 7, 2017
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find the sum invested that will return as $230000 after 5 years at a rate of 5.5% compounded anually

 

PV = FV / [1 + R]^N

PV =230,000 / [ 1.055]^5

PV =230,000 / 1.306960006409375

PV =$175,980.90 - amount that must be invested today.

Guest Mar 7, 2017

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