173,565 views
44 votes
44 votes
Find p if t=6 years , r=12% and I=$240

User Francisco Souza
by
3.2k points

2 Answers

27 votes
27 votes

Answer:

the future value would be 473.72 if p is referring to future value

if p is referring to present value it is 121.59

if p is referring to payment it is 58.37

Explanation:

you can use spreadsheets to solve this equation using =pmt/=fv/=pv

User Ashish Bista
by
3.0k points
16 votes
16 votes

Explanation:


s .i = (prt)/(100)


240 = p * (12)/(100) * 6


240 = (18)/(25) p


240 / (18)/(25) = p


p = 333.3333

User Meenaparam
by
2.7k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.