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Suppose you want to receive $ 2000 a year for 3 years earning 8% annual interest. How much do you need to invest now? I
Suppose you want to receive $ 2000 a year for 3 years earning 8% annual interest. How much do you need to invest now? I do not understand what I am supposed to put into the calculator for this. I know that the first equation is 2000= P(1+0.08)^3, which will equal 1587.66, but I do not understand how to get that solution. What numbers do I pout n to get that answer? How do I continue on
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