## Posts Tagged ‘Compound Interest’

## Problem 899

Use the compound interest formula to find the future value A, for the following values.

P = 3000

i = 0.09

n = 35

**Solution:-**

A = P(1+i)^{n}

Using the compound interest formula, replace the unknowns with corresponding values.

A = 3000(1+0.09)^{35}

Calculate the future value.

A = 61241.9

## Present Value for Compound Interest

**Present Value for Compound Interest**

The present value of A dollars compounded at an interest rate I per period for n periods is

P = or P = .