You will require $660 in 4 years. If you earn 3% interest on your funds, how much will you need to invest today in order to reach your savings goal? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Some values below may show as rounded for display purposes, though unrounded numbers should be used for actual calculations.
| PV | = | FV / (1 + r)t |
| = | $660 / 1.034 | |
| = | $586.40 |
Calculator computations:
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4
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3
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–660
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N
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I/Y
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PV
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PMT
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FV
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Solve for
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586.40
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Thank you!
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