Alma was given some money as a gift and deposited it into a savings account. She makes a withdrawal of the same amount at the en
2 answers:
You might be interested in
Answer:
112
Step-by-step explanation:
Just solve it easy peasy
First solve the inner brackets
Now the other brackets
Answer:
f(t) = 101,234
Step-by-step explanation:
First, use FV formula to find the rate ;r given PV=101,234 and FV=104,271.02 and time= 1 year
104,271.02 = 101,234
Divide both sides by 101,234 to get;
104,271.02 / 101,234 = 1+r
1.03 = 1+r
1.03 -1 =r
therefore r= 0.03 or 3%
Next, to get the function of FV of estate after t years; f(t) ;
Plug in the 3% rate found above into the FV formula with PV being the current value of 101,234 and it becomes;
f(t) = 101,234