Compound interest formula = a=P(1+r/n)^nt
P= lump sum to deposit (solving for)
A= amount accumulated over the entire time (20000)
n= number of times interest is compounded annually (1)
r= rate of interest (0.82)
T= total number of years (15)
20000=P(1+0.082/1)^1*15
20000=P(1.082)^15
20000=P(3.26143638)
20000/3.26143638=P
P=$6132.2674
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Divide the total amount of money by the total amount of feet.
477.84/32 = $14.93
hope this helps :)
8/15 = m/15
Cross multiply:
8 * 45 = 15 * M
Simplifying
8 * 45 = 15 * M
Multiply 8 * 45
360 = 15 * M
Solving
360 = 15M