Find the present value that will grow to $25,000 if interest is 6% compounded quarterly for 11 quarters

Answer 1

Here the PV*(1+i/4)^11 = FV

Soooo PV = FV / ((1+i/4)^11) (1+i/4)^11 = 1.015^1 = = 1.1779.

sooo PV = 25,000/1.1779= 21,223.33