Money is invested into an account earning 4.25% interest compounded annually. if the accumulated value after 18 years will be $25,000, approximately how much money is presently in the account?

$11,820

Step-by-step explanation:

The formula to calculate the compound amount after x years is given by :-

, where r is the rate of interest.

Given: The accumulated value A= $25000

The rate of interest r= 4.25%=0.0425

Let P be the present value invested in the account.

Now,according to the question,we have

Hence, the amount of money presently in the account =$11,820

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