If money can be invested at 7% compounded monthly, find the present value of 55,300 which is due after 2 years and 11 months from today

step-by-step explanation:

your answer is a

step-by-step explanation:

this can be solved first with pythagorean theorem, which tells us to square both legs of the triangle and sum it. this will be equal to the square of the hypotenuse.

the hypotenuse is the side "opposite" the 90 degree angle, which is x.

so we can write using pythagorean theorem,

simplifying:

to further simplify this radical, we need to use the property  

thus

the answer is a and d