There are 1.25 ounces of juice in3 of oranges.if you have a sack of oranges which each have a diameter of 3.5 inches, appromatel
1 answer:
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$7881.18
Step-by-step explanation:
Let the initial Investment be . The Interest is compounded on a monthly basis at 12% annual interest rate. After 17 years, the Investment amounts to $60,000.
As the annual interest rate is 12%, the monthly interest rate is 1%.
Since this is a compound interest problem, the total amount can be modeled as follows:
Here is the interest rate, i.e
, and t is the number of time periods, i.e
=
∴ Initial Investment = $7881.18