Posted by **amanda** on Friday, September 17, 2010 at 9:53pm.

what do i have to do to solve this?

Khety must save $5050 for a down payment on a car. He currently has $1925 in an account yielding 6.5% simple interest. If he saves no additional money, how long until he has enough for the down payment?

- math -
**PsyDAG**, Saturday, September 18, 2010 at 11:00am
Future value = Present value (1 + interest rate)^n, where n = number of years.

5050 = 1925(1.065)^n

Rearranged n= (log 5050 - log 1925)/log (1.065)

- math -
**sherry**, Tuesday, November 30, 2010 at 9:43am
a couple invests $4500 in an account paying 7% compounded quarterly. how much is in the account after one year?

- math -
**Anonymous**, Friday, February 18, 2011 at 12:58am
a sequence of yearly payments of $6000 is invested at an interest rate of 4.5%, compounded annually. what is the total amount of the annuity after 12 years?

## Answer this Question

## Related Questions

- Algebra - This assignment is about a car loan. A financial institution in your ...
- Social Studies - I was wondering if I could check my answers with someone. I'm a...
- algebra - Alice puts money into two accounts, one with 2% annual interest and ...
- algebra - Solve the problem. Helen Weller invested $15,000 in an account that ...
- Lat math question for some days. Can y'all help? - Huan deposited $850 into a ...
- Financial Math - Suppose that you decide to lease a car. At the end of the 48-...
- math - Yvonne put $4,000 in a savings account. At the end of 3 years, the ...
- Personal Finance Concepts - After a protracted legal case, Joe won a settlement ...
- MATH HELP! Complex Interest - Huan deposited $850 into a collegesavings account ...
- math - Huan deposited $850 into a collegesavings account earning 4.8% ...

More Related Questions