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1. It could be a vehicle, boat, horse, jewelry, property, vacation, college fund, retirement money, or something else. Pick something which cost somewhere between $2000 and $50,000.
2. the “Present Value Formula,” P = A (1 + r)-n....which computes how much money you need to start with now to achieve a desired monetary goal. Assume you will find an investment which promises somewhere between 5% and 10% interest on your money and you want to purchase your desired item in 12 years. (Remember that the higher the return, usually the riskier the investment, so think carefully before deciding on the interest rate.)
3. Use this words in the process of solve it.
* Negative exponent
* Rules of Exponents
4. State the following in your discussion:
*The desired item
*How much it will cost in 12 years
*The interest rate you have chosen to go with from part 2
5. Set up the formula and work the computational steps one by one, explaining how each step is worked, especially what the negative exponent means. Explain what the answer means.
6. Does this formula look familiar to any other formulas you are aware of? If so, which formula(s) and how is it similar?