Question
FV = PV(1 + i)n to calculate i if PV = $2,000, FV = $9,321.91, and n = 20
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Answer to a math question FV = PV(1 + i)n to calculate i if PV = $2,000, FV = $9,321.91, and n = 20
Eliseo
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FV = PV(1 + i)n to calculate i if PV = $2,000, FV = $9,321.91, and n = 20
substitute values
9321.91 = 2000(1+i)20
9321.91 = (2000+2000i)20
9321.91 = 40000+40000i
9321.91-40000 = 40000i
-30768.09 = 40000i
i = -0.77
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