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30 September, 12:02

Use the compound interest formula to find the present value P, for the following given values: A = $11, 200, i = 0.067, n = 120

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  1. 30 September, 12:04
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    The present value for this future value is 4.67$

    Step-by-step explanation:

    The future value formula is given by:

    F = P (1+i) ^n, = => (1 + i) to the power n

    By rearranging it for present value and substituting the values, we get 4.67 as our final answer
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