How much must be deposited today into the following account in order to have $35,000 in 7 years for a down payment on a house? Assume no additional deposits are made.

The amount that must be deposited is $ 19973.87.

Step-by-step explanation:

We have a relation between future value present value as:

                                       F= P

F=future value

P=present value

r=rate (as a decimal)

n=number of compounding periods per year

t=number of years

Now,

               assume rate as 8%

                                       35000= P

                                or,   35000= P ×

                                      or, P =

                                     or, P = $ 19973.87

So you must deposit $ 19973.87 today.

step-by-step explanation:

we are given

since, we have to isolate x on anyone side

so, we can move all x terms on one side

subtract both sides by 2x

add both sides by 9

divide both sides by 4

we get

you cant answer this dummy

step-by-step explanation: