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Calculating present value of an investment

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Jeffrey is saving up for a down payment on a car. He plans to invest $2,000 at the end of every year for 4 years. If the interest rate on the account is 2.15% compounding annually, what is the present value of the investment?

$7,587.82

$5,033.72

$8,261.72

$15,252.94

What are two technology tools that can help with calculating present value of an investment? What is one way it's possible to get an incorrect answer when using technology?

Reference no: EM132466484

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