abner needs $19650 to purchase a motorcycle. how much will he need to invest today in a savings account earning 5.4% interest, monthly compounding, to have enough money to purchase the motorcycle in 5 years?

Question

anonymous · Answer

@.Sam.  @AravindG  @eSpeX  @goformit100  @o.Ohuh? @oldrin.bataku

anonymous · Answer

@hartnn

anonymous · Answer

can someone plz help me?? il give a metal!!

anonymous · Answer

@genius12

hunus · Answer

The formula you're going to use is the compounded interest formula which is
$$A = P(1 + \frac{r}{n})^{nt}$$
Where A is your final amount of money, P is your initial amount, r is the interest rate and n is how many times it is compounded per year.

anonymous · Answer

thank you