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Select the correct answe future values*(1+) "present value""P" (141 Kate wants to have $25,000 in 16 years. How much does she need to invest if the interest rate is 6 percent per year? A $10,431.63 B.
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Select the correct answe

future values*(1+)
"present value""P" (141
Kate wants to have $25,000 in 16 years. How much does she need to invest if the interest rate is 6 percent per year?
A
$10,431.63
B. $9.841.16
C. $7,353.88

User Oliver Jonas
by
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2 Answers

2 votes
9,841.16x1.06^16= 25000.00739
B is the correct answer
User Mariano Zorrilla
by
7.7k points
3 votes
b. is the correct answer
User Cgseller
by
7.9k points
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