Using compound interest, it is found that he must deposit $56,389.
Compound interest:
- A(t) is the amount of money after t years.
- P is the principal(the initial sum of money).
- r is the interest rate(as a decimal value).
- n is the number of times that interest is compounded per year.
- t is the time in years for which the money is invested or borrowed.
In this problem:
- Hopes to have $80,000 in 20 years, thus
. - Interest rate of 1.75%, thus
. - Compounding monthly, thus
![n = 12](https://tex.z-dn.net/?f=n%20%3D%2012)
- The investment is of P, for which we have to solve.
Then:
![A(t) = P(1 + \frac{r}{n})^{nt}](https://tex.z-dn.net/?f=A%28t%29%20%3D%20P%281%20%2B%20%5Cfrac%7Br%7D%7Bn%7D%29%5E%7Bnt%7D)
![80000 = P(1 + \frac{0.0175}{12})^{12(20)}](https://tex.z-dn.net/?f=80000%20%3D%20P%281%20%2B%20%5Cfrac%7B0.0175%7D%7B12%7D%29%5E%7B12%2820%29%7D)
![P = \frac{80000}{(1 + \frac{0.0175}{12})^{12(20)}}](https://tex.z-dn.net/?f=P%20%3D%20%5Cfrac%7B80000%7D%7B%281%20%2B%20%5Cfrac%7B0.0175%7D%7B12%7D%29%5E%7B12%2820%29%7D%7D)
![P = 56389](https://tex.z-dn.net/?f=P%20%3D%2056389)
He must deposit $56,389.
A similar problem is given at brainly.com/question/25263233
The answer would be 4.6x10^3. You take the number of calves times the number of pounds of one calf (230) and get 4,600. Then move the decimal three to the left. Hope that helps!
Answer: a= b/ b+2
Step 1: factor out variable a.
a(b+2)= b
Step 2: divide both sides by b+2.
a(b+2)/ b+2 = b/b+2
To find the unit price we need to all price divide by number of gallons, so
![17.70\div5=3.54](https://tex.z-dn.net/?f=17.70%5Cdiv5%3D3.54)
Answer: The unit price is $3.54
So pretty, wow so gorgeous!!!!!