Register
How much would Carol have to invest today at 6.2% compounded annually to have $4600 for a vacation to China in two years?
8.4k views
2 votes
How much would Carol have to invest today at 6.2% compounded annually to have $4600 for a vacation to China in two years?

User Victor Wong
by
6.5k points

1 Answer

1 vote
4600=P(1.062)²
P=4078.58
Carol would have to invest $4078.58 today to reach the desired goal. ☺☺☺☺
User Jago
by
6.6k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.6m questions

8.8m answers

Other Questions

What is the least common denominator of the four fractions 20 7/10 20 3/4 18 9/10 20 18/25
What is 0.12 expressed as a fraction in simplest form
arlos has $690,000 he wants to save. If the FDIC insurance limit per depositor, per bank, is $250,000, which of these ways of distributing his money between three banks will guarantee that all of his money
Solve using square root or factoring method plz help!!!!.....must click on pic to see the whole problem
What is the initial value and what does it represent? $4, the cost per item $4, the cost of the catalog $6, the cost per item $6, the cost of the catalog?
Link Copied!