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chastineondre7979
02.03.2020 •
Business
You expect to receive $37,000 at graduation in two years. You plan on investing it at 9.5 percent until you have $172,000. How long will you wait from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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Ответ:
It will take 18 years and 339 days to reach the goal.
Explanation:
Giving the following information:
You expect to receive $37,000 at graduation in two years. You plan on investing it at 9.5 percent until you have $172,000.
First, we need to calculate the time that will take 37,000 to reach 172,000. Then, we sum up to 2 years.
To calculate the number of years, we need to use the following variation of the final value formula:
FV=PV*(1+i)^n
Isolating n:
n=[ln(FV/PV)]/ln(1+r)
n=[ln(172,000/37,000)] / ln(1.095)= 16.93 years
To be more accurate:
0.93*365= 339 days
Now, we aggregate for 2 years.
It will take 18 years and 339 days to reach the goal.
Ответ:
Step-by-step explanation:
First put it in point slope for y = mx + b
y = -2x + 5
Now plug in what ever number you want for x and solve.