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An investment will pay $18,219 in 16 years. If the interest rate is 11.09%, how much is it worth today? (Round to 2 decimal places.)
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8 votes
An investment will pay $18,219 in 16 years. If the interest rate is 11.09%, how much is it worth today? (Round to 2 decimal places.)

User Braj
by
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1 Answer

10 votes
18219 * (1 + 11.09%)^16 = ?

18219 * (1.1109)^16 = ?

? = 18224.380213

ANSWER = $18224.38
User Vimal Dhaduk
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3.2k points
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