flyingsquirrel7452 flyingsquirrel7452
  • 23-07-2017
  • Mathematics
contestada

Jessica plans to purchase a car in one year at a cost of $30,000. how much should be invested in an account paying 10% compounded semiannually to have the funds needed?

Respuesta :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 23-07-2017
The formula is
A=p (1+r/k)^kt
A fund needed 30000
p Amount invested?
R interest rate 0.1
K compounded semiannual 2
T time 1 year
Solve the formula for p to get
P=A÷(1+r/k)^kt
P=30,000÷(1+0.1÷2)^(2×1)
P=27,210.88
Answer Link

Otras preguntas

How do o solve both of these?? With work please!
Stalin's reactions to the truman doctrine
The number of coins on the third day will be 2x2x2. Can you write another expression using exponents for the number of coins there will be on the third day?
why is gold not found everywhere
As the clump of colored fluid at the bottom of the lava lamp rises to the top, which will increase?
France has 14 million smokers. more importantly, smokers in france are closely associated with the french culture. to reduce the number of smokers in the nation
What version of the bible do catholics use?
Margie calculated that she spent 175$ on school supplies this year. She actually spent $97.50 on school supplies. What is margies percent of error?
1) Identify the fraction as proper, improper, or mixed. 17/18 2) Identify the fraction as proper, improper, or mixed. 18/17
Of the 84 people who answered "yes" to a question, 14 were male. Of the 73 people that answered "no" to the question, 12 were male. If one person is selected at