The future value of an investment is $73309.25 dollars. If it is invested at 1.9% simple interest for 15 years, what is the present value?

Using $LaTeX: \displaystyle FV = PV(1+r \cdot t) \iff PV = \frac{FV}{1+rt}$ . Evaluating the formula gives $LaTeX: \displaystyle PV = \frac{73309.25}{1 + (0.019)(15)} = 57050.00$ .