How tall would I be if i were 54 inches How tall would I be if i were 58 inches? How tall would i be if Iwere 59 inches?

1 answer:

6 0

<span>So the question is how tall would a person be in three cases, 54 inches, 58 inches and 59 inches. Since the height measure are feet and inches and one feet has 12 inches, this is the first case: 54 inches = 4*12 inches + 6 inches = 4 feet and 6 inches = 4'6''. Second case: 58 inches= 4*12 + 10 inches= 4 feet and 10 inches = 4'10'' and third case: 59 inches= 4*12 inches + 11 inches= 4 feet and 11 inches = 4'11''. </span>

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What initial investment must be made to accumulate $60000 in 17 years if the money is invested in a mutual fund that pays 12% an

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$7881.18

Step-by-step explanation:

Let the initial Investment be $P_{0}$ . The Interest is compounded on a monthly basis at 12% annual interest rate. After 17 years, the Investment amounts to $60,000.

As the annual interest rate is 12%, the monthly interest rate is 1%.

Since this is a compound interest problem, the total amount can be modeled as follows: $P(t)=P_{0}(1+\frac{i}{100})^{t}$

Here $i$ is the interest rate, i.e $1$ , and t is the number of time periods, i.e $17\textrm{ years x }12\frac{\textrm{months}}{\textrm{year}}$ = $204\textrm{ months}$