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never [62]
3 years ago
11

How much money would you need to deposit today at 7% annual interest compounded

Mathematics
1 answer:
dolphi86 [110]3 years ago
6 0

Answer:

Hello,

\frac{15000}{(1.07)^{8} }

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I just learned this topic and have the same question, so I'm not sure if this right. However, I see a fellow student struggling and have to at least put in what I know. My equation was f(n) = 64(1/2)^n-1, then the question was write an expression to represent f(20).

Step-by-step explanation:

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f(20) is the number you plug into n. And because the exponent is n-1, I knew to subtract 1 from 20 to get 19.

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