How much would you have to invest at 6.3% interest for it to have grown to $67.06 in five years

1 answer

x(1.063)^5 = 67.06

x = 67.06/(1.063)^5 = 49.41

Similar Questions

Paul has $60,000 to invest. His intent is to earn 14% interest on his investment. He can invest part of his money at 8% interest

Top answer: Well, Paul is in quite a pickle! Splitting his investment between two options with different Read more.
Gina plans to invest $12,000, part at 4% simple interest and the rest at 6% simple interest. What is the most she can invest at

Top answer: x at 4% (12,000 -x) at 6% then .04 x + .06(12000-x) = 650 -.02 x + 720 = 650 .02 x = 70 x = 3500 Read more.
Gina plans to invest $12,000, part at 4% simple interest and the rest at 6% simple interest. What is the most she can invest at

Top answer: Assistance needed. Please type your <u>subject</u> in the <b>School Subject</b> box. Any other Read more.
Problem:Geoff has $5000 to invest. He wants to earn $568 in interest in one year. He will invest part of the money at 12% and

Top answer: (5000 - x).12 + x(.10) = 568 (5000).12 - (x).12 + x(.10) = 568 600 - .12x + .1x = 568 subtract 600 Read more.
Sancha wants to invest $18,000. She is considering two investing options.Option 1: Invest with a 9% simple interest rate over a

Top answer: To find the final amount of Option 1, we can use the formula for simple interest: Final Amount = Read more.
Petra invest $10800after4years she has earned $3240 in interest ar what annual rate of interest did she invest her money?

Top answer: let the annual rate be i 10800(1+i)^4 - 10800 = 3240 10800(1+i)^4 = 14040 (1+i)^4 = 1.3 take 4th Read more.
Serenity wants to invest $25,000 of her savings for her retirement fund. Determine the difference in interest earning between

Top answer: To calculate the difference in interest earning, we need to find the total amount earned at the end Read more.
suppose you want to invest $60,000 for ten years. You can invest your money in a CD that earns 4% interest, compounded quarterly

Top answer: a. P = Po(1+r)^n Po = $60,000. r = (4%/4)/100% = 0.01 = Quarterly % rate expressed as a decimal. n = Read more.
has inherited $15,000 that she wants to invest in two separate accounts, one paying 4%and one paying 3% annual interest. If the

Top answer: amount at 4% --- x amount at 3% --- 15000 - x solve for x .... .04x + .03(15000-x) = 550 Read more.
James has 10,000 to invest. If he invest money in a savings account that pays 4% APR, calculate the following:a) how long will

Top answer: a) To calculate how long it will take for James to have a total of $15,000, we can use the formula Read more.