Exponents and Polynomials in the Real World

Instructions

For the initial post, think of something you want or need that has a future cost between $5,000 and $90,0000. For example, maybe you want to save up for your child's college education or maybe you want to save for a cabin on the lake. Assume you have an investment, which provides between 6% and 11% interest compounded annually, and you want to purchase your desired item in 15 years. What is the present value? In other words, how much money do you need to invest today?Include the following in your discussion:State the FV or cost of the desired item in n = 15 years.State the interest rate, r, you will earn on your investment (use an annual rate between 6% and 11%).Set up the formula and solve for the present value, PV, showing all work. You must use 2 scholarly resources

Answer

For the initial post, think of something you want or need that has a future cost between $5,000 and $90, 000. For example, maybe you want to save up for your child's college education or maybe you want to save for a cabin on the lake. Assume you have an investment, which provides between 6% and 11% interest compounded annually, and you want to purchase your desired item in 15 years. What is the present value? In other words, how much money do you need to invest today?Include the following in your discussion:State the FV or cost of the desired item in n = 15 years.Here we can find the cost between 5000 and 900,000 by finding the mean of the two values Therefore 5000+900,000=905,000/2=452,500State the interest rate, r, you will earn on your investment (use an annual rate between 6% and 11%)....
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