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Mathematics 9 Online
OpenStudy (anonymous):

What is the present value of $100000 and the rate of interest of 6% for 10 years

OpenStudy (p0sitr0n):

100 000 * 1.06^10 179 084.77$

OpenStudy (anonymous):

how did you derive at this answer

OpenStudy (p0sitr0n):

well, the 1.06 is 100% + 6% which is 100/100 + 6/100 1.06 as it is the % of % of % etc for 10 years, its exponential so, 1.o6^10 multiplied by the original placement and we get the answer.

OpenStudy (anonymous):

okay thanks so now I can do the others the same way

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