Answer:
28-R=M
28-19=9
R=19
M=9
Step-by-step explanation:
It is $15,900.50 because it says 15,000 car loan with a 6 percent rate.
For this case we have the following equation:
P (t) = P (1 + r / n) ^ (n * t)
Where,
P: initial investment
r: interest
n: periods
t: time
she will take on her 45th birthday:
for t = 25:
P (25) = 1000 * (1 + 0.0165 / 4) ^ (4 * 25)
P (25) = 1509.31 $
Answer:
The future value of this investment when she takes her trip is:
P (25) = 1509.31 $
6 and 3 can give you the same answer
