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tamonjones tamonjones
  • 18-01-2017
  • Mathematics
Answered

How much must you invest at one time in order to accumulate $18,000 in 12 years at 5% annual interest? A = P(1+ r)n

Verified Answer :

Anonymous Anonymous
  • 18-01-2017

Amount = Principal ( 1 + rate) Number of years

$18000 = P ( 1 + 0.05 )12

12P (1.05) = $18000

1.05P = $1500

Principal (P) = $1428.5714

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