Solve for the missing value. Round to four decimal places.
-n = 30; i = 0.03; PMT = $100; PV = ?
A) $1960.0441
B) $4706.6287
C) $1918.1585
D) $2000.0441

Name: Solve for the missing value. Round to four decimal places. -n = 30; i = 0.03; PMT = $100; PV = ? A) $1960.0441 B) $4706.6287 C) $1918.1585 D) $2000.0441
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Question

Quizplus · Accepted Answer

PV = PMT * [(1 - (1 + i)^-n)/i]
PV = $100 * [(1 - (1 + 0.03)^-30)/0.03]
PV = $1960.0441 (rounded to four decimal places)

Solve for the Missing Value