A Qdoba and a Baja Fresh both close down. They were both very near by a Chipotle. Now that Qdoba and Baja Fresh are gone, what d
1 answer:
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Answer:
for rate 11.2 percent ,principal = 8419.47
for rate 5.6 percent , principal = 86123.90
Explanation:
given data
amount wish A = 1,000,000
time t = 45 year
rate r1 = 11.2 % = 0.112
rate r2 = 5.6 % = 0.056
to find out
how much do you have to invest today
solution
we know here amount formula that is
amount = Principal × ..........................1
here r is rate and t is time so
for rate r1 principal amount is by equation 1 we get
amount = Principal ×
1,000,000 = Principal ×
principal = 8419.47
and for rate r2 principal is from equation 1
amount = Principal ×
1,000,000 = Principal ×
principal = 86123.90