seanq11078 seanq11078

27-10-2021
Mathematics

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An apple farm yields an average of 40 bushels of apples per tree when 22 trees are planted on an acre of ground

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OnMySky OnMySky

27-10-2021

Future value = FV = $6000

Time period = n = 8

interest rate = r = 12%

Present value (PV) is calculated using the formula:

PV = FV/(1+r)n

Present Value = PV = 6000/(1+12%)8 = 6000/1.128 = 2423.299368

Answer -> 2,423

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