1) James needs to obtain $80,000 for his daughter's future college tuition. He is looking to invest in an account that pays 3.1% annual interest. The account compounds quarterly. How much money would
James have to invest today so that 15 years from now, he will have the money?

$ 50,340.97

Step-by-step explanation:

From the above question, we can deduce that we are to find the Initial amount invested which is also called the Principal.

The formula to find Principal in a compound interest question is:

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

Where:

A = Total Amount obtained after invested = $80,000

r = Interest rate = 3.1% = 0.031

n = number of times interest in compounded = Quarterly = 4

t = time in years = 15

P = $80,000/(1 + 0.031/4)^4 × 15

P = $80,000/(1 +0.00775)^60

P = $ 50,340.97

Hence, James would have to invest $50,340.97 today to have $80,000 in 15 years.

d is the correct answer

step-by-step explanation:

x= 8 because 3x = 3 * 8, and 3*8 = 24

-2x + 7 = 7

subtract 7 from both sides.

-2x = 0

divide both sides by -2.

x = 0