Trevor is saving for a down payment to buy a house. The account earns 11.2% interest compounded monthly, and he wants to have $1

Question

2 years ago

10

Trevor is saving for a down payment to buy a house. The account earns 11.2% interest compounded monthly, and he wants to have $1

4,000 in 7 years.
What must his principal be? Round your answer to the nearest cent and do not include the dollar sign. Do not round at any other point in the solving process; only round your answer.

Mathematics

1 answer:

Anna71 [15] · Answer 1 · 2022-11-12T01:59:07+03:00

Anna71 [15]2 years ago

7 0

$1271.22

Step-by-step explanation: