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katen-ka-za [31]

2 years ago

6

Miranda wants to give her 14-year-old daughter $20,000 when she turns 18. How much does she need to put in the bank now if the i

nterest rate is 10 percent per year? A:$12,418.43 B:$13,660.27 C:$15,026.30

1 answer:

hodyreva [135]2 years ago

8 0

$x$ × 1.1 × 1.1 × 1.1 × 1.1 = 20,000

$x$ × 1.4641 = 20,000

$x= \frac{20,000}{1.4641}$

$x = $13660.27$

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