Help!!
2 answers:
You might be interested in
Depends if you want
1. find how much he will earn, find the differnce between that and 18000
2. see how much to invest till he will get 18000
A=
A=futre amount
P=present amout
r=rate in decimal
n=number of times per year ccompounded
t=time in years
1.
A=?
P=9000
r=0.06
n=4 (quarter means 4 times per year)
t=2
?=
?=
?=
?=10138.4 will be earned
18000-10138.4=7861.6 needed
2.
A=18000
P=9000+x
r=0.06
n=4 (quarter means 4 times per year)
t=2
18000=
18000=
18000=
divide both sides by 1.015^8
15978.8=9000+x
minus 9000 both sides
6978.8 needed
if he willnot be investing any more, he needs $7861.6 more
if he will invest more he will need to invest $6978.8 more
1. find how much he will earn, find the differnce between that and 18000
2. see how much to invest till he will get 18000
A=
A=futre amount
P=present amout
r=rate in decimal
n=number of times per year ccompounded
t=time in years
1.
A=?
P=9000
r=0.06
n=4 (quarter means 4 times per year)
t=2
?=
?=
?=
?=10138.4 will be earned
18000-10138.4=7861.6 needed
2.
A=18000
P=9000+x
r=0.06
n=4 (quarter means 4 times per year)
t=2
18000=
18000=
18000=
divide both sides by 1.015^8
15978.8=9000+x
minus 9000 both sides
6978.8 needed
if he willnot be investing any more, he needs $7861.6 more
if he will invest more he will need to invest $6978.8 more