Compound interest is given by the formula A=P(1+r)t Where A is the balance of the account after

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Compound interest is given by the formula A=P(1+r)t Where A is the balance of the account after t years, and P is the starting principal invested at an annual percentage rate of r, expressed as a decimal.

Joshua is investing money into a savings account that pays 4% interest compounded annually, and plans to leave it there for 15 years. Determine what Joshua needs to deposit now in order to have a balance of $30,000 in his savings account after 15 years.

Joshua will have to invest $? now in order to have a balance of $30,000 in his savings account after 15 years. Round your answer UP to the nearest dollar.

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Posted Date: Feb 26, 2022 10:28 AM

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Compound interest is given by the formula A=P(1+r)t Where A is the balance of the account after

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