How much must be deposited today into an account with annual compounding and an APR of 5% in ordenar to have 50,000 in 8 years for a down payment on a house? Assume no additional deposits are made.

Solución

How much must be deposited today into an account with annual compounding and an APR of 5% in order to have 50, 000 in 8 years for a down payment on a house? Assume no additional deposits are made.

Solución

Principal : 33841.97

Pasos de solución

Translate the problem into an equation:

50000 = P (1 + \frac{0.05}{1})^{1 \cdot 8}

Resolver para

P, 50000 = P (1 + \frac{0.05}{1})^{1 \cdot 8} : P = 33841.97

Principal : 33841.97

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How much must be deposited today into an account with annual compounding and an APR of 5​% in ordenar to have 50,000 in 8 years for a down payment on a​ house? Assume no additional deposits are made.

Solución

Solución

Ejemplos populares

How much must be deposited today into an account with annual compounding and an APR of 5% in ordenar to have 50,000 in 8 years for a down payment on a house? Assume no additional deposits are made.