So what this is is
many words

assuming year 0 is 2017

so compound first thing till 2020, take out 30000
the remaining is copmpounded til 2022, take out 50000
remaining is compounded for 1 more year and that is equal to 80000

so from 2017 to 2020, that is 5 years
from 2020 to 2022 is 2 years
from 2022 to 2023 is 1 year

work backwards

A=P(r+1)^t
last one
A=80000
P=?
r=0.08
t=1 year

80000=P(1.08)^1
divide both sides by 1.08
I would leave in fraction
20000000/27=P

now that is the remaining after paying 50000, after 2 years of compounding

so
50000+(2000000/27)=P(1.08)^2
solve using math
about
106374=P

now reverse back

5 years
paid 30000

30000+106374=P(1.08)^5
solve using math
92813.526=P
round
$92813.53

put $92813.53 in the fund

8 0

3 years ago

Lella will rent a car for the weekend. She can choose one of two plans. The first plan has an initial fee of $46 and costs an ad

Helen [10]

The plans cost the same at 125 miles. the cost is $63.50

6 0

2 years ago