Answer
$49113$
Work Step by Step
$FV=80000, t=10, m=1, r=5%$
$FV=PV(1+\frac{r}{m})^{mt}$
$80000=PV(1+\frac{5}{100})^{10}$
$PV=\frac{80000}{1.62}=49113$
Finite Math and Applied Calculus (6th Edition)
by Waner, Stefan; Costenoble, Steven
Published by
Brooks Cole
ISBN 10:
1133607705
ISBN 13:
978-1-13360-770-0
Chapter 2 - Section 2.2 - Compound Interest - Exercises - Page 143: 32
Update this answer!
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.
