How much money should be invested in an account that earns 8% interest compounded quarterly to yield $10,000 in 4 years? (Round
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<h3>Answer: 210</h3>
Work Shown:
7 ways to pick the president.
6 ways to pick the VP
5 ways to pick the secretary
7*6*5 = 210 ways to pick the three people from a pool of seven. Order matters because the positions are different. Note the count down from 7 to 6 to 5 which indicates that any given person cannot run for more than one office.
You can use the permutation formula with n = 7 and r = 3
The permutation formula is where the exclamation marks represent factorials.