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find the present value of 45,000 if interest is 3.5% compounded monthly for 3 years.
The formula to use here is A=P(1+r/n)^(nt) A is the current value, p is the principal or starting amount, r is the interest rate, n is how many times per year compounded, and t is the time Plug your values in. A=45000(1+.035/12)^(12*3) => A=45000(1.029166667)^36 Final answer: About $126,677 at present. Hope I could help :)
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