Answer:
$1,592.74
Martha will need to pay $1,592.74 more
Step-by-step explanation:
Using the compound interest/inflation formula;
A = P(1+r)^(t)
Where;
A = final value
P = initial value = $10,000
r = inflation rate = 3% = 0.03
t = time = 5 years
Substituting the values;
A = $10,000(1+0.03)^(5)
A = $11592.740743
A = $11,592.74
How much more will Martha need to save;
C = final value - initial value = A - P
C = $11,592.74 - $10,000
C = $1,592.74
Martha will need to pay $1,592.74 more
Answer:
-2, -1/4, 0.1, 3/4, 3.5
Step-by-step explanation:
