Question

To get $3000 after 2.75 years at 5% compounded daily.
the present value of $3000 is $ ______

Answer 1

You use the formula

\[\Large FV = PV\left(1+\frac{r}{n}\right)^{nt}\]

Answer 2

PV = present value
FV = future value
r = interest rate as a decimal
n = compounding frequency
t = time in years

Answer 3

i dont understand

Answer 4

Here, just simplify this:\[3000=PV(1+\frac{ .05 }{ 365 })^{2.75\times365}\]