Friday

August 29, 2014

August 29, 2014

Posted by **jen** on Thursday, April 9, 2009 at 2:00am.

a) in 5 years?

b)in 10 years?

c)in 20 years

I know i'm supposed to use F=P(1+i)^n

or P=F(1+i)^-n but I am not sure if the problem is asking me for the future value in 5 yrs or the present value of how much the money is worth now if the inheritance is given in 5,10,20 years.

And are all parts of the question independent. Or when I do partb), do I add the value I got in part a to it.

- interest -
**Reiny**, Thursday, April 9, 2009 at 8:06amfirst one:

PV = 20000(1.07)^-5

= 14259.72

you try the other two.

**Related Questions**

algebra - Sylvia Acuff invested money received from an inheritance for 9 months ...

math - Investing inhertance.Norman invested one-half of his inheritance in a CD ...

algebra - Randy invested his inheritance in an account that paid 6.1% interest, ...

Math - An inheritance of $40,000 is invested in two municipal bonds which pay 6...

Finance - Find the future value of $10,000 invested now after five years if the ...

Algebra - Ramona divided his 35,000 inheritance between two investments, one ...

Math - Someone loaned me $20.00 in 1962 without quoting an interest rate. Using ...

Math - Sam lent her brother some money at 9% simple interest and her sister one-...

math - Samantha lent her brother some money at 9% simple interest and her ...

college math - ok this is the last question i need help on. Abigail just ...