Find the present value that will grow to ​$27,000 if interest is 9​% compounded quarterly for 11 quarters.

Answer 1

2 ways to answer this

Excel formula

FV=27,000

R=9%

N=11

=PV(9%,11,0,-27,000,0)

=10463.39 If you want to learn more let me know '

factor tables

Present value factor table for n 11 at 9%=0.388

FV *PV factor

27,000*0.38753=10,463.31 Avoid rounding off early

Answer 2

Video Attached!

See the video.

Answer 3

27000 = a₀(1 + 0.09/4)¹¹

Can you calculate and answer?