Answer:
The lum sum that must be deposited today is $12,506.25 to have a future value of $25,000 in 9 years if the funds carn 8%, compounded annually.
Step-by-step explanation:
We are given:
Future value (A)=$25,000
Rate r =8% (0.08%)
Time t = 9
Compounded Annually n =1
We need to find:
Principal Amount (P) = ?
The formula used will be:
Putting values and finding Principal Amount (P)
So, The lum sum that must be deposited today is $12,506.25 to have a future value of $25,000 in 9 years if the funds carn 8%, compounded annually.
Answer:
Step-by-step explanation:
To solve the question we refresh our knowledge of the quotient rule.
For a function f(x) express as a ratio of another functions u(x) and v(x) i.e
, the derivative is express as
from
we assign u(x)=lnx and v(x)=x^2
and the derivatives
.
Note the expression used in determining the derivative of the logarithm function.it was obtain from the general expression of logarithm derivative i.e
If we substitute values into the quotient expression we arrive at