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Beliebt Word Problems >

Josefa wants 5,000 saved in 2 years to make a down payment on a house. How much money should she invest now at 4.45% compounded annually in ordnung to meet her goal?

Lösung

J ose f a w an t s 5, 000 s a v e d in 2 ye a rs t o mak e a d o w n p a y m e n t o n a h o u se . Ho w m u c h m o n ey s h o u l d s h e in v es t n o w a t 4.45% co m p o u n d e d ann u a ll y in or d er t o m ee t h er g o a l ?

Lösung

Principal : 4583.03

Schritte zur Lösung

Translate the problem into an equation:

5000 = P (1 + \frac{0.0445}{1})^{1 \cdot 2}

Löse nach

P, 5000 = P (1 + \frac{0.0445}{1})^{1 \cdot 2} : P = 4583.03

Principal : 4583.03

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