How much should be deposited today to have $4,641 in 20 years when the discount rate...

How much should be deposited today to have $4,641 in 20 years when the discount rate s 14.9 percent with annual compounding?

Expert Solution

Future Value = 4,641

Time Period = 20 years

Interest rate = 14.90%

Calculating Present value,

Amount Deposited = 4,641/(1.149)²⁰

Amount Deposited = $288.54

jeff jeffy answered 2 years ago

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