I need help with this Math question?

I found this really old piece of paper in my notebook from few years ago with this question. I was wondering if anyone knows how to do it?

A person wants to make an investment. After 4 years she has $600. The interest rate is 3.5%.

The equation they give you is " A(1+i)^x

I wrote that i have to figure out all the values and how much she has to invest so after 4 years it equals to 600.

Anyone know what i wrote?

1 Answer

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  • 8 years ago
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    the (1+i)^x

    where i = interest and x is number of years in question and the A would seem to be the principal which we are trying to find.

    basically in this case we have 600=A(1+.035)^4

    this is solved by dividing 600 by 1.035^4 and that will give you what the starting sum would be that would result in a total of 600 after 4 years, $522.87.

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