Answer:
present value = $2126.47
Explanation:
given data
future value = $2,300
time t = 2 year
rate of return r = 4%
solution
we get here present value that is express as
future value = present value × [tex](1+r)^{t}[/tex] ..............1
put here value and we get
$2,300 = present value × [tex](1+0.04)^{2}[/tex]
present value = [tex]\frac{2300}{1.04^2}[/tex]
present value = $2126.47
