vinny7134 vinny7134

21-04-2018
Mathematics

contestada

How much must be deposited in a bank account earning 12% compounded annually to have $4,614 after 18 years?

Respuesta :

sqdancefan sqdancefan

25-04-2018

A = P*(1 +r)^t
4614 = P*1.12^18
4614/7.689966 = 600.00

$600 must be deposited to have $4614 after 18 years.

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