Rosa Burnett needs $3,000 in three years to make the down payment on a new car. How much must she invest today if she receives 2.5% interest annually, compounded annually?

 

 

Present Value of $1.00 1% 1.5% 2% 6% 8% 10% 12% Periods 0.5% 1 5% 0.95238 0.94340 0.92593 0.90909 0.89286 0.90703 0.89000 0.85734 0.82645 0.79719 Rate per period 2.5% 3% 4% 0.99502 0.99010 0.98522 0.98039 0.97561 0.97087 0.96154 0.99007 0.98030 0.97066 0.96117 0.95181 0.94260 0.92456 0.98515 0.97059 0.95632 0.94232 0.92860 0.91514 0.88900 0.86384 0.83962 0.79383 0.75131 0.71178 0.98025 0.96098 0.94218 0.92385 0.90595 0.88849 0.85480 0.82270 0.79209 0.73503 0.68301 0.63552 0.97537 0.95147 0.92826 0.90573 0.88385 0.86261 0.82193 0.78353 0.74726 0.68058 0.62092 0.56743 0.97052 0.94205 0.91454 0.88797 0.86230 0.83748 0.79031 0.74622 0.70496 0.63017 0.56447 0.50663 0.96569 0.93272 0.90103 0.87056 0.84127 0.81309 0.75992 0.71068 0.66506 0.58349 0.51316 0.45235 0.96089 0.92348 0.88771 0.85349 0.82075 0.78941 0.73069 0.67684 0.62741 0.54027 0.46651 0.40388 0.95610 0.91434 0.87459 0.83676 0.80073 0.76642 0.70259 0.64461 0.59190 0.50025 0.42410 0.36061 10 0.95135 0.90529 0.86167 0.82035 0.78120 0.74409 0.67556 0.61391 0.55839 0.46319 0.38554 0.32197 11 0.94661 0.89632 0.84893 0.80426 0.76214 0.72242 0.64958 0.58468 0.52679 0.42888 0.35049 0.28748 0.94191 0.88745 0.83639 0.78849 0.74356 0.70138 0.62460 0.55684 0.49697 0.39711 0.31863 0.25668 0.93722 0.87866 0.82403 0.77303 0.72542 0.68095 0.60057 0.53032 0.46884 0.36770 0.28966 0.22917 0.93256 0.86996 0.81185 0.75788 0.70773 0.66112 0.57748 0.50507 0.44230 0.34046 0.26333 0.20462 0.92792 0.86135 0.79985 0.74301 0.69047 0.64186 0.55526 0.48102 0.41727 0.31524 0.23939 0.18270 0.92330 0.85282 0.78803 0.72845 0.67362 0.62317 0.53391 0.45811 0.39365 0.29189 0.21763 0.16312 0.91871 0.84438 0.77639 0.71416 0.65720 0.60502 0.51337 0.43630 0.37136 0.27027 0.19784 0.14564 0.91414 0.83602 0.76491 0.70016 0.64117 0.58739 0.49363 0.41552 0.35034 0.25025 0.17986 0.13004 0.90959 0.82774 0.75361 0.68643 0.62553 0.57029 0.47464 0.39573 0.33051 0.23171 0.16351 0.11611 0.90506 0.81954 0.74247 0.67297 0.61027 0.55368 0.45639 0.37689 0.31180 0.21455 0.14864 0.10367 234u 2 3 4 5 6919 SIN3 7 8 12 13 14 15 16 17 18 19 20 I