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Calculate the Present Value of an amount if the accumulated sum is $8420 the number of...

Calculate the Present Value of an amount if the accumulated sum is $8420 the number of periods is 9 at an annual compound interest rate of 2%.  

  

Provide your answer to two (2) decimal places and do not include '$' signs, commas or full stops (periods).

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Answer #1

In this problem the acumulated value depriciates with time. The principal, depriciation rate, depriciation time is given, all we need to find the depriciated value of given amount at present time. Which is calculated below.

ma I SD 1420(1 ÷1-195092 5 61) 。45.4793

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