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Mashutka [201]
3 years ago
14

You want to have $45,000 in cash to buy a car 4 years from today. you expect to earn 4.5 percent, compounded annually, on your s

avings. how much do you need to deposit today if this is the only money you save for this purpose?
Mathematics
1 answer:
Strike441 [17]3 years ago
6 0
The formula is
A=p (1+r)^t
A future value 45000
P present value?
R interest rate 0.045
T time 4years

We need to solve for p
P=A÷(1+r)^t
P=45,000÷(1+0.045)^(4)
P=37,735.26
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If the population of a town grew 15% up to 76,894, what was the population lest year?
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Let's first find the equation to find what the population went up to. X, will be the population of last year.
1.15x=76,894
Now, we need x by itself, so we need to divide both sides by 1.15.
76,894÷1.15≈66,864
There are decimals, but for this problem, hae .3478 of a person would not fit.
We can check our answer.
66,864×.15=10,029.6
10,029.6+66,864=76,893.6 (rounds up to 76,864)
So the population of the town last year was about 66,864 (66,864.3478) people.
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