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If the present value of an item is P
and we experience an inflation rate
of r for t years, what will the future
value of the item be?
P = $20,000 r = 6% t = 25
Round your answer to the nearest cent. The answer is not 85837.41!!!!!

Respuesta :

Answer:

$50,000

Step-by-step explanation:

Formula to find interest :

I = Prt

Solving :

  • I = (20,000)(0.06)(25)
  • I = (1.5)(20,000)
  • I = (30,000)

Future value :

  • P + I
  • 20,000 + 30,000
  • $50,000

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