Mathematics, 05.07.2019 07:30 Mattixwillard
If the interest rate is 3% and a total of $4,370.91 will be paid to you at the end of 3 years, what is the present value of that sum? a$3,900.00 b3,947.00 c$3,977.40 d$4,000.00
Answers: 1
![\bf 4370.91=P\left(1+\frac{0.03}{1}\right)^{1\cdot 3}\implies 4370.91=P(1.03)^3 \\\\\\ 4370.91=1.092727P\implies \cfrac{4370.91}{1.092727}=P\implies 4000.00183\approx P \\\\[-0.35em] \rule{34em}{0.25pt}](/tpl/images/0053/2667/70058.png)
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