Andrew is going to invest in an account paying an interest rate of 2.2% compounded quarterly. How much would Andrew need to invest, to the nearest hundred dollars, for the value of the account to reach 93,000 in 19 years?

解答

Andrew is going to invest in an account paying an interest rate of 2.2% compounded quarterly. How much would Andrew need to invest, to the nearest hundred dollars, for the value of the account to reach 93, 000 in 19 years?

解答

Principal : 61297.85

求解步骤

Translate the problem into an equation:

93000 = P (1 + \frac{0.022}{4})^{4 \cdot 19}

求解

P, 93000 = P (1 + \frac{0.022}{4})^{4 \cdot 19} : P = 61297.85

Principal : 61297.85

流行的例子

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