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Questions: Algebra BusinessCalculus
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The future value of an investment is $38938.20 dollars. If it is invested at 1.8% simple interest for 15 years, what is the present value?
Using \(\displaystyle FV = PV(1+r \cdot t) \iff PV = \frac{FV}{1+rt}\). Evaluating the formula gives \(\displaystyle PV = \frac{38938.2}{1 + (0.018)(15)} = 30660.00\).
\begin{question}The future value of an investment is \$38938.20 dollars. If it is invested at 1.8\% simple interest for 15 years, what is the present value?
\soln{9cm}{Using $FV = PV(1+r \cdot t) \iff PV = \frac{FV}{1+rt}$. Evaluating the formula gives $PV = \frac{38938.2}{1 + (0.018)(15)} = 30660.00$. }
\end{question}
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\begin{document}\begin{question}(10pts) The question goes here!
\soln{9cm}{The solution goes here.}
\end{question}\end{document}<p> <p>The future value of an investment is $38938.20 dollars. If it is invested at 1.8% simple interest for 15 years, what is the present value? </p> </p>
<p> <p>Using <img class="equation_image" title=" \displaystyle FV = PV(1+r \cdot t) \iff PV = \frac{FV}{1+rt} " src="/equation_images/%20%5Cdisplaystyle%20FV%20%3D%20PV%281%2Br%20%5Ccdot%20t%29%20%5Ciff%20PV%20%3D%20%5Cfrac%7BFV%7D%7B1%2Brt%7D%20" alt="LaTeX: \displaystyle FV = PV(1+r \cdot t) \iff PV = \frac{FV}{1+rt} " data-equation-content=" \displaystyle FV = PV(1+r \cdot t) \iff PV = \frac{FV}{1+rt} " /> . Evaluating the formula gives <img class="equation_image" title=" \displaystyle PV = \frac{38938.2}{1 + (0.018)(15)} = 30660.00 " src="/equation_images/%20%5Cdisplaystyle%20PV%20%3D%20%5Cfrac%7B38938.2%7D%7B1%20%2B%20%280.018%29%2815%29%7D%20%3D%2030660.00%20" alt="LaTeX: \displaystyle PV = \frac{38938.2}{1 + (0.018)(15)} = 30660.00 " data-equation-content=" \displaystyle PV = \frac{38938.2}{1 + (0.018)(15)} = 30660.00 " /> . </p> </p>