Register
If the interest rate is 3% and a total of $4,370.91 will be paid to you at the end of 3 years, what is the present value of that sum?
115k views
3 votes
If the interest rate is 3% and a total of $4,370.91 will be paid to you at the end of 3 years, what is the present value of that sum?

User Ilian
by
7.9k points

1 Answer

4 votes
You want to know the amount you started with so the formula is: Principal = Total ÷ (1 + Rate)^years Principal = 4,370.91 ÷ (1.03)^3 Principal = 4,370.91 ÷ 1.092727 Principal = $4,000.00
User Crthompson
by
7.8k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!