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That's incorrect. The present value formula is pequalsStartStartFraction Upper A OverOver left parenthesis 1 plus StartFraction r Over n EndFraction right parenthesis Superscript nt EndEndFraction

That's incorrect. The present value formula is pequalsStartStartFraction Upper A OverOver left parenthesis 1 plus StartFraction r Over n EndFraction right parenthesis Superscript nt EndEndFraction , where p is the present value, or the principal to invest now, A is the amount to be accumulated in the account, r is the annual interest rate as a decimal number, n is the number of compounding periods per year, and t is the time in years

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