Problema Solution
Determine the present value P you must invest to have the future value A at simple interest rate r after time t.
A = 5000,r = 14%, t = 39
Answer provided by our tutors
in this case t=39 weeks =9.1 almost 9 months =3/4 yrs
P = principal amount (the initial amount you borrow or deposit)
r = annual rate of interest (as a decimal)
t = number of years the amount is deposited or borrowed for.
A = amount of money accumulated after n years, including interest.
n = number of times the interest is compounded per year
a=p(1+r/n)^nt
5000=p(1+0.14)^3/4
p= 4532.01