Ashley and Dwayne are saving for retirement. Their goal is to have 250,000 in 15 years. They open up an account with an APR I’d
1 answer:
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The future value of the investment in dollars s
V = p + prt
where
p = principal, dollars
r = annual interest rate (in decimal form)
t = time, years
To determine p, write the formula as follows:
Factorize p out on the right side.
V = p(1 + rt)
Divide each side b (1 + rt).
Answer:
V = p + prt
where
p = principal, dollars
r = annual interest rate (in decimal form)
t = time, years
To determine p, write the formula as follows:
Factorize p out on the right side.
V = p(1 + rt)
Divide each side b (1 + rt).
Answer: