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How much must be deposited today into the following account in ordenar to have 40 000 in 5years for a down payment on a house? Assume no additional deposits are made.An account with annual compounding and an APR of 6%

Solución

How much must be deposited today into the following account in order to have 40 000 in 5years for a down payment on a house? Assume no additional deposits are made.An account with annual compounding and an APR of 6%

Solución

Principal : 29890.33

Pasos de solución

Translate the problem into an equation:

40000 = P (1 + \frac{0.06}{1})^{1 \cdot 5}

Resolver para

P, 40000 = P (1 + \frac{0.06}{1})^{1 \cdot 5} : P = 29890.33

Principal : 29890.33

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How much must be deposited today into the following account in ordenar to have 40 000 in 5years for a down payment on a​ house? Assume no additional deposits are made.An account with annual compounding and an APR of 6​%

Solución

Solución

Ejemplos populares

How much must be deposited today into the following account in ordenar to have 40 000 in 5years for a down payment on a house? Assume no additional deposits are made.An account with annual compounding and an APR of 6%