fonzocoronado3478
08.03.2021 •
Mathematics
How much money must stemmer invest if he wants to buy a bicycle in cash after 5 years? The bank offers him an interest rate of 8.8% compounded yearly. He needs R6600 at the end of the period to buy the bicycle.
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Ответ:
4,329
Step-by-step explanation:
The computation of the amount invested is shown below:
As we know that
Present value = Future value ÷ (1 + interest rate)^years
= 6600 ÷ (1 + 0.088)^5
= 6600 ÷ 1.088^5
= 4,329
Ответ: