Help please ?

Joey is saving up for a down payment on a car. He plans to invest $2,000 at the end of every year for 3 years. If the interest rate on the account is 2.05% compounding annually, what is the present value of the investment?

$4,180.20

$5,762.15

$5,891.08

$5,978.76

Question

Help please ?

Joey is saving up for a down payment on a car. He plans to invest $2,000 at the end of every year for 3 years. If the interest rate on the account is 2.05% compounding annually, what is the present value of the investment?

 $4,180.20

 $5,762.15

 $5,891.08

 $5,978.76

primeralph · Answer

Are you sure that's all there is to the question?

anonymous · Answer

yep i'm really sure

anonymous · Answer

I plug it in in many different forumlas

anonymous · Answer

like 2000(1+(0.0205/1))^3

anonymous · Answer

and FV = 2000((1+0.0205/1)^(1*3) - 1 )/( 0.0205/3)

anonymous · Answer

and its not giving me the same answer that are in my answer choices :c

primeralph · Answer

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