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Algebra Word Problem Solver solves many types of Compound Interest word problems.
Compound Interest Word Problem Solver Example: Find Present Value given Future Value, Interest rate, Time Period and Compounding. See Other Compound Interest Word Problem Examples solved by the Algebra Word Problem Solver.
- Find Compound Interest
- Find Compound Interest Time to Double
- Find Compound Interest Amount
- Find Compound Interest Rate
- Find Compound Interest Future Value
- Continuously Compounded Interest
What You Enter
Find the present value of $1347.89 in 3.5 years, 6.77% compounded semiannually.
What You Get
Let A = Future Value Let P = Present Value Let r = Rate Let t = Time Let n = Interest periods per year Given: A = $1347.89 Given: r = 6.77% Given: n = 2 Given: T = 3.5 YEARS -nt P = A(1+r/n) -2*3.5 P = 1347.89(1+0.0677/2) -7 P = 1347.89(1+0.03385) P = $1,067.71
Solution: P = $1,067.71