+0  
 
0
20
1
avatar

Four years ago you invested some money at 10% interest. You now have $839.23 in the account. If the interest was compounded yearly, how much did you invest 4 years ago?

 Oct 17, 2020
 #1
avatar
0

PV = FV / [1 + R]^N

PV = 839.23 / 1.10^4

PV =839.23 / 1.4641

PV = 573.21 - what you invested 4 years ago.

 
 Oct 18, 2020

43 Online Users

avatar
avatar