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Future value or present value..?


Your grandmother invested one lump sum 42 years ago at 3.5 percent interest. Today, she gave you the proceeds of that investment which totaled $28,204.37. How much did your grandmother originally invest?

a.$7,500

$6,650

$7,200

$9,000

$4,500

Present value

PV = FV/(1 + r)n

And the answer is $6,650

$6650.00

Thank God for calculators.

what inspired you to ask this question?

i got 6650

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