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If the interest rate is 3% and a total of $4,370.91 will be paid to you at the end of 3 years, what is the present value of the sum

Respuesta :

javh10

Answer:

vp=  $1,989.49

Explanation:

To calculate the present value we use the following formula;

[tex]vp = \frac{vf}{1+i^{n} }[/tex]

[tex]vp = \frac{4,370.91}{(1+0.3)^{3} } = 1,989.49[/tex]

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