You want to have $55,230 at the end of seven years.How much do you have to invest today to accumulate that total if you can earn 14% compounded annually?
A) $22,071.97
B) $19,361.38
C) $20,763.00
D) $22,092.00
E) $22,074.34

Question

Quizplus · Accepted Answer

PV = 11ea7fdb_fc2c_532f_a768_038640876f87_TB2902_00 PV = 11ea7fdb_fc2c_5330_a768_4170de610078_TB2902_00 = $22,071.97
Using a financial calculator:
N = 7, I/Y = 14, PMT = 0, FV = -55,230, cpt PV = $22,071.97

You Want to Have $55,230 at the End of Seven