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Todd curently has 5,000 what was the value of his money four years ago if hes earned 4% interest each year

Todd curently has 5,000 what was the value of his money four years ago if hes earned 4% interest each year
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1 vote
todd curently has 5,000 what was the value of his money four years ago if hes earned 4% interest each year

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User Granger
by
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2 Answers

3 votes

I’m taking this on Plato and the answer is 4,274.02 I just got the question right

answered
User Wes Baker
by
7.3k points
3 votes
A(t) = P (1+rt)

5000 = P ( 1 + 0.04 *4)

5000 = P (1.16)

P = 4310.34
answered
User LiranBo
by
9.1k points
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