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Money is invested into an account earning 4.25% interest compounded annually. If the accumulated value after 18 years will be $25,000, approximately how much money is presently in the account? a. $5,875
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Money is invested into an account earning 4.25% interest compounded annually. If the accumulated value after 18 years will be $25,000, approximately how much money is presently in the account?

a. $5,875
b. $11,820
c. $19,125
d. $23,960

User MangduYogii
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2 Answers

4 votes

Answer:

answer is b on edge 2020

Explanation:

just took the test

User Eclewlow
by
7.7k points
4 votes
P=25,000÷(1+0.0425)^(18)
P=11,818.73
So the answer is b
User Kalana Demel
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8.0k points
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