How much money should I save for a big, state to state, road trip?
1 answer:
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Answer:
$1445.11
Step-by-step explanation:
The formula to use would be:
Where
F is the future amount (what we want to find)
P is the present (principal) amount (this is 400)
r is the rate of interest, monthly (1.8% or 0.018)
t is the time in months (6 years = 6 * 12 = 72)
Now substituting, we get:
After 6 years, the CD will be worth $1445.11
Answer:
84
Step-by-step explanation:
f(1)=4^1 - 1 = 3
f(4) = 4^4 - 1 = 255
rate of change =
(255 - 3) / (4 - 1) = 252 / 3 = 84