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July 29, 2014

July 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.

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