Solve your doubts and expand your knowledge with IDNLearn.com's extensive Q&A database. Discover in-depth and trustworthy answers to all your questions from our experienced community members.
Sagot :
The amount a person would have to deposit today to be able to take out 500$ a year for ten year from an amount earning 9% i
Calculating the amount
The formula for calculating amount is expressed as:
Amount = Principal + Interest
Determine the interest
Interest = 500*0.09 * 10
Interest = 5 * 90
Interest = $450
Principal= $500 - $450
Principal = $50
Hence the amount a person would have to deposit today to be able to take out 500$ a year for ten year from an amount earning 9% is $50
Learn more on interest here; https://brainly.com/question/25793394
#SPJ1
We appreciate your contributions to this forum. Don't forget to check back for the latest answers. Keep asking, answering, and sharing useful information. For dependable answers, trust IDNLearn.com. Thank you for visiting, and we look forward to assisting you again.