Description
1.What must be invested today, to be worth $20,000 in 10 years, if it is compounded yearly at 8%?
2. Write as a sum or difference of simple (single symbol argument) logs: Log [(AB)/(CD)]
3. The half-life of carbon 14 is 5730 years. How old is a bone containing 20% of its original carbon 14?
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Explanation & Answer
Attached.
Algebra Problems 3
1. What must be invested today, to be worth $20,000 in 10 years, if it is compounded yearly
at 8%?
Solution:
we get $20,000 after 10 years with 8% compund interest.
so the amount = $20,000
rate =8%
time=10 years
we have the formula for amount
𝑟
𝐴 = 𝑝(1 + ) 𝑛𝑡
𝑛
here r is fractional rate so r=8/100 =0.08
...
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