Gracie wants $15,000 saved in 4 years to make a down payment on a house . How much money should she invest now at 3.9 compounded in order to meet her goal ?
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The formula is: \[PV = \frac{FV}{(1 + r)^n}\] Where: PV = present value FV = future value r = interest rate n = number of periods Show more…
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