Mathematics, 13.12.2019 10:31 miranda3837
How much money, as a one-time deposit, pv, would you need to deposit into an account that earns 1.5% compounded monthly to earn a future value, fv, of $7,500 in three years?
this amount can be found by using algebra to rearrange the function, fv=pv(1+rn)(ny), so that fv becomes an input variable and pv becomes the output variable.
pv=fv(1+rn)(−ny)
Answers: 3
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How much money, as a one-time deposit, pv, would you need to deposit into an account that earns 1.5%...
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