Determine the principle p that must be invested at rate r=8%, compounded monthly, so that $500,000 will be available for retirement in t=9 years. round to nearest cent.

step-by-step explanation: you take each of the numbers and divide by the amount then you take the range

other answer is correct. i had used the radius of the radius somehow. a website:

the answer is:

the correct option:

b.

to solve the problem, we need to remember how to operate to simplify exponential expressions using the logarithms.

we are given the equation:

then, using placing logarith with base 7 on both sides of the equation, we have:

so, rounding the obtained result to two decimal places (nearest hundreth), we have:

hence, we have that the correct option:

b.

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