MeeHellwig328 MeeHellwig328

20-05-2014
Mathematics

Answered

Michelle needs to save $7,000 for school in the next two years. She found a bank that offers a 9% interest rate compounded annually. What does she need to deposit at the beginning of the year to have enough money for school?

Answer :

Аноним Аноним

28-07-2014

[tex]100\%+9\%=109\%=1.09\\\\x\times1.09^2=7,000\\\\1.1881x=7,000\ \ \ \ /:1.1881\\\\x\approx5892\\\\Answer:\$5892[/tex]

Answer Link

Other Questions

How do you make 2 trapezoids out of a rectangle

what can 76 be divided by

What is Thanksgiving Day

211 to a mixed number simplest form

A student on an amusement park ride moves in a circular path with a radius of 35 meters once every 89 seconds The student moves at an average speed of 1 039 ms

The war giving Cuba independence from Spain was the battle of Manila Bay Boxer Rebellion SpanishAmerican War

What is the mixed number of 354 and what is the improper number of 6 and 27

In October Greg and Thomas had the same amount of money in their savings accounts In November Greg deposited 120 into his account Thomas increased the money in

Othello is about a man who wrongfully suspects his wife of infidelity becomes consumed with jealousy and murders her What is most likely the significance of the

describe the common features of the first state constitutions