Answer: $107,836.69 or about $107,837 (to the nearest dollar)
Step-by-step explanation:
Formula to the accumulated amount received after investing principal amount (P) at rate of interest (r) compounded monthly for t months :
As per given , A = $130,000
r= 7.5% = 0.075
t= 30 months
Now,
Hence he need to invest $107,836.69 .
Well, I'm way past the 15 min mark, but here's how to do the question.
With this, you will need to use the distance formula, , on XY, YZ, and ZX.
XY:
Firstly, solve inside the parentheses:
Next, solve the exponents:
Next, solve the addition, and XY's distance will be √29
(The process is the same with the other 2 sides, so I'll go through them real quickly)
YZ:
ZX:
Now that we got the 3 sides, we can add them up:
In short, your answer is 14.8, or the second option.