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Rosalie wants to have $7,500 in 18 years. Use the present value formula to calculate how much Rosalie should invest now at 8% interest, compounded annually in order to achieve her goal.

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facundobuzzetti

Answer:

PV= $1,876.87

Explanation:

Giving the following information:

Rosalie wants to have $7,500 in 18 years. Use the present value formula to calculate how much Rosalie should invest now at 8% interest.

We need to use the following formula:

PV= FV/(1+i)^n

PV= 7,500/(1.08^18)= $1,876.87

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