You want to have $400,000 to purchase a house 10 years from today. Assuming you can earn 3 percent, compounded annually, how much money must you invest today

$297,638

Explanation:

Future Value (FV) = 400,000 (The amount you need to have in 10 years)

n = 10 years

i/r = 3%/year

Present Value (PV) - Money you need to invest today:

= 400,000 / (1+0.03)^10 = $297,638

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"