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3 years ago

Plzz help I’ll mark brainliest

Mathematics

1 answer:

MrRissso [65]3 years ago

7 0

Needs to be done on a graph

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3 years ago

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3 years ago

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3 years ago

Adam wishes to have $20 comma 000 available in 18 years to purchase a new car for his son as a gift for his high school graduat

wel

Adam should invest $15516 after 18 years.

<u>Explanation:</u>

Given:

Amount(18) = $20000

Rate of Interest, r = 1.41%

Time, t = 18 years

n = 365 (compounded daily)

General equation of amount that is compounded daily:

$A(t) = A_0(1 + \frac{r}{n} )^n^t$

Solving for A₀:

$A_0 = \frac{A(t)}{(1+\frac{r}{n} )^n^t}$

Substituting the values:

$A_0 = \frac{20000}{(1 + \frac{0.0141}{365})^3^6^5^X^1^8 } \\\\A_0 = \frac{20000}{1.289}\\ \\A_0 = 15516$

Therefore, Adam should invest $15516 after 18 years.

8 0

3 years ago