Question

Darlene Fine wants to have at least $50,000 in her savings account in 10 years. If her account pays 3.6% interest compounded annually, what should Darlene's initial investment be if she plans to keep the account without making deposits or withdrawals? Hint: Use the formula for annual compounding.

$36,764.71

$14,894.72

$16,764.71

$35,105.28

Answer 1

A=P(1+r100)n


A-amount of money accumulated after n years, including interest.
P-principal amount (the initial amount you borrow or deposit)
r-annual rate of interest
n-number of years

So you know that A=$50,000
r=3.6 and n=10,so:
50,000=P(1+0.036)10

Answer 2

hello baby

Answer 3

^ ignore the thirsty guy.

Answer 4

lol

Answer 5

Are you familiar with:
50,000=P(1.36)^10?

Answer 6

hahaha

Answer 7

sorta

Answer 8

Pretty much you solve that and you will get your answer :D

Answer 9

My bad type:
50,000=P(1.036)^10

Answer 10

mhmm

Answer 11

lol so what do you get O.o

Answer 12

well idk what P is

Answer 13

2.84

Answer 14

Well your solving for P...So you would do:
50000=P(1.036)^10
50000 = P(1.036)^10
50000 = p(1.424287143492311)
50000/1.424287143492311 = P

Answer 15

So after all that hard shtupid work ._.
Your answer is ???

Answer 16

35105.2807?

Answer 17

YOSHHHHHHHHHH <3
So whats the answer to your question ma'am?

Answer 18

thyank you :) I understand now mm yoiu think you can hellp me with this one ?
Joshua Treet had a $400.00 average monthly expenditure for entertainment during the second quarter of the year. He spent $401.50 in July and $250.00 in August. How much can Joshua spend in September to have the same average as in the second quarter?

Answer 19

2Q: $400 monthly for Entertainment
July: $401.50
August:$250

Answer 20

September = ?

Answer 21

idk how to work this if i add or multiply or what

Answer 22

Google is my best friend....It always hints me off at stuff!

Answer 23

can u help with this one?

Answer 24

i got 548

Answer 25

Show ya work :D

Answer 26

well i added july and august $ and 548 then divided by 3 got 400

Answer 27

Sounds right =.=
Is it right? Maybe...Or maybe Not o.O

Answer 28

its right

Answer 29

Good job :D