Answer:
$8,706
Explanation:
Lionnel is considering doing some long term investments with the money she inherited
She would like to have $50,000 at the end of 30 years
The interest is 6%
Therefore the amount that Lionnel would need to put into the account can be calculated as follows
A= P(1+r)^t
50,000 = P(1+6/100)^30
50,000 = P (1+0.06)^30
50,000 = P(1.06)^30
50,000= 5.7434P
P = 50,000/5.7434
P= $8,706
Hence Lionnel will need to put $8,706 into an account earning 6% interest