# Math!

posted by .

What amount 18 months ago is equivalent to \$2300, 1.5 year from now if money earn 7% compounded monthly during the interving time?

i know: FV=\$2300 j=7% m=12 and ?n=36?
i=7%/12
PV=FV(1+i)^-n
PV=2300(1+.07/12)^-36
PV=1865.48

What i don't understand is how do we get the "n=36"...plz help!!!

• Math! -

18 months + 1.5 years = 36 months

• Math! -

thnx :D!!!

but im confuse because isnt n= mt
m=12
t= 18months?

## Similar Questions

1. ### math

A school sells tickets for a show, (a) adult tickets and (c) child tickets. 1) each adult ticket costs \$8 and each child ticket costs \$5. the total takings are 2300. Write an equation to represent this information. 2) solve algebraically …
2. ### Math

Given info: arc length = 65 m formula for arc length: s=rĂ¸ s = 2pi r radius of circle: 2300 m so to find the angle would I put in 2pi(2300)= rounded to 14451 Then would I multiply: 65(360/14451) if that is right, why would I divide …
3. ### Math

Nico is saving money for his college education. He invests some money at 5%, and \$2300 less than that amount at 3%. The investments produced a total of \$163 interest in one year. How much did he invest at each rate?
4. ### math

What is the value of an initial investment of \$2300 after twelve years if the interest accrued is compounded quarterly, and the annual rate is 6.5%?
5. ### Maths

Sophia's monthly salary is \$2300. She gives \$500 to her parents and saves 30% of the remaining money. She spends the rest. How much does she spent?
6. ### math

The Question is: The value of a new car depreciates at a rate of 12% per year. 1)Write an equation to represent the approximate value of a car purchased for \$23 000. 2)Determine the value of the car two years after it is purchased. …
7. ### Chemistry - Titrations

What volume (mL) of 0.2650 N H3PO4 is required to neutralize: a) 35.25 mL of 0.2300 M KOH b) 19.14 mL of 0.2300 M NH4OH Unfortunately, the teacher didn't get the opportunity to teach us titrations in class today, but this problem (and …
8. ### Physics

Car 1 going northward (direction 90 degrees) at 14 m/s in an SUV weighing 2300 kg. car 2 going southwest (direction 225 degrees) at 16 m/s in a car that weighs 1600 kg. it is a completely inelastic collision. What is the direction …
9. ### Algebra

Salary Increases: A man gets a job of \$30000 a year. He promised \$2300 raise each subsequent year. Find his total earnings for a 10-year period.