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What is the present value of an investment that will be worth $6000 at the end of five years? Assume an APR of 6% compounded monthly. (Round your answers to the nearest cent.)

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madethisfortwitch1

Answer:

4448.23

Step-by-step explanation:

[tex]AV=PV(1+\frac{i}{n})^{nt}\\\\6000=PV(1+\frac{.06}{12})^{5*12}\\\\6000=PV*1.3488\\\\PV= 4448.23[/tex]

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