Question: Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $7300 after

Use the present value formula to determine the amount to be invested now, or the present value needed.

The desired accumulated amount is $7300 after 9 years invested in an account with 3% interest compounded annually.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Q:

Use the present value formula to determine the amount to be invested now, or the present value needed The desired accumulated amount is $80,000 after 10 years invested in an account with 3% interest...

Q:

Use the present value formula to determine the amount to be invested now, or the present value needed.The desired accumulated amount is $ 80,000 after 10 years invested in an account with 4 %...

Q:

Use the present value formula to determine the amount to be investednow, or the present value needed. The desired accumulated amount is $ 60, 000 60,000 after 1 4 years invested in an account with...

Q:

Use the present value formula to determine the amount to be investednow, or the present value needed. The desired accumulated amount is $ 150,000 7 years invested in an account with 6 % interest...

Q:

Use the present value formula to determine the amount to be invested now, or the present value needed. 12) The desired accumulated amount is $9000after8years invested in an account with3% interest...

Q:

Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $80,000 after 10 years invested in an account with 2.9%...

Q:

Please help me solve this question, and show all work. Thank you :) Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated...

Q:

PLEASE HELP URGENT Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $80,000 after 14 years invested in an...

Q:

Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $110, 000 after 6 years invested in an account with 7%...

Q:

Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $50,000 after 11 years invested in an account with 3% interest...

Q:

On September 14, 2013, C & T Machinery, Inc. sold $2,300 of inventory (cost is $1,350) on account to one of its customers. The terms were 1/10, n/30, FOB destination. On September 16, C & T...

Q:

Choose one of the companies introduced in the case and search the Internet to update the status of their project. Also, look at their competitors, and discover how they have responded to the...

Q:

equirement a . A mechanic performs work on his own automobile. The mechanic would have charged a customer $ 4 0 0 for doing the same work. Self - help income taxable.

Q:

Your Boat, Inc. assembles custom sailboats from components supplied by various manufacturers. The company is very small and its assembly shop and retail sales store are housed in a Gig Harbor,...