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?
- 8 years agoFavorite Answer
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.