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    columbiasoccer's Avatar
    columbiasoccer Posts: 1, Reputation: 1
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    #1

    Sep 12, 2007, 10:42 AM
    Interest compounded annually
    Interest rate of 13% compounded annually I need to find how much can be lent now if $10000 will be repaid at the end of five years?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Sep 12, 2007, 11:04 AM
    The formula you need to use is:


    Here i = .13, FV (Future value) = $10,000, and N = 5 years. Can you solve for PV (present value)? You can use logarithms to solve.
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