Reed Hodges
01/27/2024 · Middle School
Find the principal needed now to get the given amount; that is, find the present value. To get \( \$ 1000 \) after \( 1 \frac{1}{4} \) years at \( 4 \% \) compounded daily The present value of \( \$ 1000 \) is \( \$ \square \). (Round to the nearest cent as needed.)
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The present value of \$1000 needed now is approximately \$950.77.
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