svarner2001
17.10.2019 •
Mathematics
Edward has decided to purchase a high- performance motorcycle. he'll need 9,500 in 3 years. his bank offers an interest rate of 8% compounded quarterly. how much does edward need to deposit now to have enough money for his motorcycle in 3 years?
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Ответ:
A=p (1+r/k)^kt
A future value 9500
P present value?
R interest rate 0.08
K compounded quarterly 4
T time 3 years
We need to solve the formula for p
P=A÷(1+r/k)^kt
P=9,500÷(1+0.08÷4)^(4×3)
P=7,490.7 round your answer to get
P=7491
Ответ:
dang
Step-by-step explanation: