14
QuizLong Text

Compound Interest

Question 14 • TCHS VV Financial Math A

Lakisha just won some money in a sweepstakes drawing. She is considering putting her winnings in a long term investment. To the nearest dollar, how much money would Lakisha need to put into an account earning 5% interest compounded annually in order to have $30,000 at the end of 20 years?

Answer

Answer:

A = P(1+r)^t