Answer:
he invest today is $229166.67
Explanation:
given data
future value = $110,000
time t = 6 year
rate r = 8 % = 0.08
to find out
present value
solution
we get here present value that is
future amount = principal × rate × time .................1
$110,000 = principal × 8% × 6
$110,000 = principal × 0.08 × 6
$110,000 = principal × 0.48
principal = [tex]\frac{110000}{0.48}[/tex]
principal = 229166.67
so he invest today is $229166.67
