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3 years ago

10

Claire is going to invest in an account paying an interest rate of 5.4% compounded daily. How much would Claire need to invest,

to the nearest hundred dollars, for the value of the account to reach $260 in 14 years?

1 answer:

Delicious77 [7]3 years ago

4 0

Answer:

P ≈ 100

Step-by-step explanation:

260 = P(1+0.054/365)^365(14)

260 = P(1.000147945)^5110

260= P(2.129621112)

P= 122.087444818

P ≈ 100

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