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Present Value of Money and Calculus

Please answer the following questions:

The Present value of money is the amount that you need to deposit now in order to have a desired amount sometime in the future .

1. What is the present value needed in order to have saved $60,000 in five years, given an annual interest rate of 7% compounded monthly?

2. What is the present value needed in order to have saved $60,000 in five years, given an annual interest rate of 7 % compounded continuously?

f(x) = 2x + 7 and g(x) = 4x^2 - 1

3. (f o g) (1) =

4. (g o f) (1) =

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1. Suppose the present value is x, then
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Solution Summary

This solution is comprised of a detailed explanation to answer what is the present value needed in order to have saved $60,000 in five years, given an annual interest rate of 7% compounded monthly.

$2.19