What is the present value present value of 150,000, 10 years from now, at an APY of 3%

Question

What is the present value present value of 150,000, 10 years from now, at an APY of 3%

Answer 1

Present value is obtained by dividing the initial amount by (1+ r)^n

 

Here, your initial amount is 150,000

r = 0.03

n = 10

 

Therefore, PV = 150,000/((1.03)^10)