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vladimir1956 [14]
2 years ago
15

How much do I have to deposit today in order to have $5000 in 5 years if interest is 8.5% compounded annually?

Mathematics
1 answer:
alina1380 [7]2 years ago
6 0

Answer:

PV= $3,402.9

Step-by-step explanation:

Giving the following formula:

Future Vale (FV)= $5,000

Number of years (n) 5 years

Interest rate (i)= 8.5% compounded annually

<u>To calculate the initial investment (PV), we need to use the following formula:</u>

PV= FV / (1 + i)^n

PV= 5,000 / (1.085^5)

PV= $3,402.9

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<h3>Answer: 17</h3>

======================================================

Explanation:

This is a piecewise function. It's composed of 3 pieces of other functions. A piecewise function is a function that changes its identity based on what the input is.

We have three different situations here

  • If t = 17, then h(t) = sqrt(17t) based on what the first row says
  • If t = 19, then h(t) = -34/t which is the second row of the piecewise function.
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The notation h(17) means we want to evaluate h(t) when t = 17. So we'll use the first case mentioned above. Plug t = 17 into h(t) = sqrt(17t) to get...

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