You have a wooden rod which is 24 1/2 inches long. Carlos needs a piece which is 8 3/4 inches long and Amanda needs a piece whic
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Adam should invest $15516 after 18 years.
<u>Explanation:</u>
Given:
Amount(18) = $20000
Rate of Interest, r = 1.41%
Time, t = 18 years
n = 365 (compounded daily)
General equation of amount that is compounded daily:
Solving for A₀:
Substituting the values:
Therefore, Adam should invest $15516 after 18 years.