3 years ago

Help please i dont no

Mathematics

2 answers:

ludmilkaskok [199]3 years ago

3 0

The answer would be 24 glasses because you do 8 x 3 and you get 24

PIT_PIT [208]3 years ago

3 0

Answer:

Step-by-step explanation:

8x3

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What initial investment must be made to accumulate $60000 in 17 years if the money is invested in a mutual fund that pays 12% an

mars1129 [50]

$7881.18

Step-by-step explanation:

Let the initial Investment be $P_{0}$ . The Interest is compounded on a monthly basis at 12% annual interest rate. After 17 years, the Investment amounts to $60,000.

As the annual interest rate is 12%, the monthly interest rate is 1%.

Since this is a compound interest problem, the total amount can be modeled as follows: $P(t)=P_{0}(1+\frac{i}{100})^{t}$

Here $i$ is the interest rate, i.e $1$ , and t is the number of time periods, i.e $17\textrm{ years x }12\frac{\textrm{months}}{\textrm{year}}$ = $204\textrm{ months}$