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HOW TO REMEMBER FORMULA AND CALCULATOR?
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Find Present Worth of Money Given Future Worth
You would like to deposit money in a bank and have it earn interest at % for
year, and you want the bank to return
$
to you at the end of year.
How much money you should deposit? Answer
How much interest did you earn? Answer
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Formula Recall
P = F ( 1 + i ) - n
Where F = means Future Worth of Money
Where P = means Present worth of deposited money
Where i = means interest rate for F
Where n = means number of years money is deposited