Step 1:
Given data
r = 11%
Future amount A = 150,000
t = 10 years
Present amount p = ?
Step 2
[tex]\begin{gathered} \text{A = P}(1+r)^t \\ 150000\text{ = p(1 + }0.11)^{10} \\ 150000\text{ = }p\text{ }\times1.11^{10} \\ 150000\text{ = 2.84P} \\ p\text{ = }\frac{150000}{2.84} \\ p\text{ = 52816.90} \end{gathered}[/tex]