If you wish to have $60,000 in 8 years, how much do you need to deposit in the bank today if the account pays 9% using present value and future value.

To be able to have $60,000 after 8 years at a rate of 9% per annum, the amount to deposit today is $30,111.98

You can solve this using the Future Value formula which is:

Future value = Present value x ( 1 + rate)^ number of years

You have everything except the present value so solve for it:

60,000 = PV x ( 1 + 9%)⁸

60,000 = PV x 1.9925626416901921

PV = 60,000 / 1.9925626416901921

PV = $30,111.98

In conclusion, you should deposit $30,111.98 today.

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Amount to deposit= $26799.0

Step-by-step explanation:

Amount A = $60,000

Years t = 8 years,

Rate R = 9% .

A= p(1+r/n)^(nt)

60000= p(1+0.09/9)^(9*9)

60000= p(1+0.01)^(81)

60000= p(1.01)^81

60000= p(2.23888)

60000/2.23888= p

26799.1138= p

P= $26799.0

Amount to deposit= $26799.0

the answer is 8

step-by-step explanation:

3.14 x 8x8

answer: a. 13/44

step-by-step explanation: judging by the information given to us, we are looking for experimental probability. we can see that 13 males have chosen chocolate ice cream. there are 44 ice creams in total (remember that the total is always the denominator). so our answer is 13/44.