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Questions: Algebra BusinessCalculus
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A client needs to save $9500 dollars in 6 years. If they invest at \(\displaystyle 3.8\)% compounded monthly, how much do they need to invest today?
Using the forumla for present value \(\displaystyle PV = \frac{9500}{ (1 + (0.038/12))^{72} } = 7565.91\) dollars.
\begin{question}A client needs to save \$9500 dollars in 6 years. If they invest at $3.8$\% compounded monthly, how much do they need to invest today?
\soln{9cm}{Using the forumla for present value $PV = \frac{9500}{ (1 + (0.038/12))^{72} } = 7565.91$ dollars. }
\end{question}
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\begin{document}\begin{question}(10pts) The question goes here!
\soln{9cm}{The solution goes here.}
\end{question}\end{document}<p> <p>A client needs to save $9500 dollars in 6 years. If they invest at <img class="equation_image" title=" \displaystyle 3.8 " src="/equation_images/%20%5Cdisplaystyle%203.8%20" alt="LaTeX: \displaystyle 3.8 " data-equation-content=" \displaystyle 3.8 " /> % compounded monthly, how much do they need to invest today?</p> </p>
<p> <p>Using the forumla for present value <img class="equation_image" title=" \displaystyle PV = \frac{9500}{ (1 + (0.038/12))^{72} } = 7565.91 " src="/equation_images/%20%5Cdisplaystyle%20PV%20%3D%20%5Cfrac%7B9500%7D%7B%20%281%20%2B%20%280.038/12%29%29%5E%7B72%7D%20%7D%20%3D%207565.91%20" alt="LaTeX: \displaystyle PV = \frac{9500}{ (1 + (0.038/12))^{72} } = 7565.91 " data-equation-content=" \displaystyle PV = \frac{9500}{ (1 + (0.038/12))^{72} } = 7565.91 " /> dollars. </p> </p>