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.

x ≥ 18 is your answer

step-by-step explanation:

let "a number" = x

(2/3)x + 17 ≥ 29

isolate the variable (x). do the opposite of pemdas (parenthesis, exponent (& root), multiplication, division, addition, subtraction).

first, subtract 17 from both sides.

(2/3)x + 17 (-17) ≥ 29 (-17)

(2/3)x ≥ 29 - 17

(2/3)x ≥ 12

next, multiply 3/2 to both sides to isolate the x

(3/2)(2/3)x ≥ 12(3/2)

x ≥ 12(3/2)

simplify. multiply, then divide

x ≥ (12 * 3)/2

x ≥ (36)/2

x ≥ 18

x ≥ 18 is your answer

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