Answer: $107,836.69 or about $107,837 (to the nearest dollar)
Step-by-step explanation:
Formula to the accumulated amount received after investing principal amount (P) at rate of interest (r) compounded monthly for t months :
As per given , A = $130,000
r= 7.5% = 0.075
t= 30 months
Now,
Hence he need to invest $107,836.69 .
Problem
Solution
For this case we know that the vertex is given by (3,6) and the genera equation for a parabola is given by:
y= a(x-h)^2 +k
Where h = 3, k=6 and replacing we have:
y= a(x-3)^2 +6
And we can find the value of a with the point given x= 4, y=4
4= a(4-3)^2 +6
4= a +6
a= 4-6=-2
And the correct equation would be:
d. y= -2(x-3)^2 +6
