Question

david quiere saber cuanto requiere invertir mensualmente para obtener $30,760.08 durante 6 meses si los invierte con el 12% capitalizable mensualmente?

Answer 1

Answer:

A = $32,652.44

Step-by-step explanation:

Given: Principal (P) = 30,760.08, Annual Rate (R) = 12%, Time (t in years) = 0.5

To find: How much David needs to invest monthly

Formula: $A = P(1 + r/n)^n^t$

Solution: To find, simply add principal + interest

First, convert R as a percent to r as a decimal

r = R/100

r = 12/100

r = 0.12 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 30,760.08(1 + 0.12/12)(12)(0.5)

A = 30,760.08(1 + 0.01)(6)

A = $32,652.44

Therefore;  

The total amount David will obtain with 30,760.08 for 6 months, 12%is $32,652.44.