Lena is going to invest to help with a down payment on a home. How much would she have to invest to have 54,300 after 6 years, assuming an interest rate of 1.63% compounded quarterly?Do not round any intermediate computations, and round your final answer to the nearest dollar. If necessary, refer to the list of financial formulas.

الحلّ

Lena is going to invest to help with a down payment on a home. How much would she have to invest to have 54, 300 after 6 years, assuming an interest rate of 1.63% compounded quarterly?Do not round any intermediate computations, and round your final answer to the nearest dollar. If necessary, refer to the list of financial formulas.

الحلّ

Principal : 49250.67

خطوات الحلّ

Translate the problem into an equation:

54300 = P (1 + \frac{0.0163}{4})^{4 \cdot 6}

54300 = P (1 + \frac{0.0163}{4})^{4 \cdot 6}, P

حلّ لـ:

P = 49250.67

Principal : 49250.67

أمثلة شائعة

The circumference of a circle is 17pi cm. What is the area, in square centimeters? Express your answer in terms of pipi.The radius of a circle is 5in Find its circumference in terms of pi Four consecutive even integers add up to 60. What is the greatest of these integers?The product of six and a number is eleven Find the future value and interest earned if 8806.54 is invested for 9 years at 5% compounded