Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Join our Q&A platform to connect with experts dedicated to providing precise answers to your questions in different areas. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

find the present value of 45,000 if interest is 3.5% compounded monthly for 3 years.

Sagot :

45,000*3.5% would give you 1,575*36= 56,700
FirstSineOfMadness
The formula to use here is A=P(1+r/n)^(nt)
A is the current value, p is the principal or starting amount, r is the interest rate, n is how many times per year compounded, and t is the time
Plug your values in.
A=45000(1+.035/12)^(12*3) => A=45000(1.029166667)^36
Final answer:
About $126,677 at present.
Hope I could help :)
Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.