A= P + nrP solve for P
1 answer:
You might be interested in
Answer:
See below
Step-by-step explanation:
The initial ordered-pairs are
We have a rotation of 90 degrees counterclockwise with respect to origin
Note. Previously the points were
After the rotation, we have
Thus,
Then shifting horizontally to the right 2 units, we get ΔA'B'C'
Thus,
Answer:
The principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Step-by-step explanation:
Given
- Accrued Amount A = $1000000
- Interest rate r = 6% = 0.06
- Time period t = 45 years
- Compounded monthly n = 12
To determine:
- Principle amount P = ?
Using the formula
substituting A = 1000000, r = 0.06, t = 45, and n = 12
$
Therefore, the principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.