What launch song must a deposit at a 10% annually interest rate compounded annually in order to have $60,000 in the fund at the end of 10 years

Step-by-step explanation:

Deposit=?

Given that

Annual rate is 10% =0.1

r=0.1

Amount A=$60,000

t=10years

The formula for compound interest, including principal sum, is:

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

Where,

A = the future value of the investment/loan, including interest

P = the principal investment amount (the initial deposit or loan amount)

r = the annual interest rate (decimal)

n = the number of times that interest is compounded per unit

n=12months

t = the time the money is invested or borrowed.

So,

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

60,000=P(1+0.1/12)^(12×10)

60,000=P(1+0.008333)^120

60,000=P(1.008333)^120

60,000=P× 2.707

Then, P=60,000/2.707

P=$22,164.418

So, he should have deposit $22,164.418 to yield an amount of $60,000 in ten years time at a rate of 10% compounded annually

$23133 must be deposited.

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

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

Where

A = total amount in the account at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount deposited

From the information given,

A = $60000

r = 10% = 10/100 = 0.1

n = 1 because it was compounded once in a year.

t = 10 years

Therefore,.

60000 = P(1 + 0.1/1)^1 × 10

60000 = P(1.1)^10

60000 = 2.5937P

P = 60000/2.5937

P = $23133

answer: on graphs, the open and closed circles, or vertical asymptotes drawn as dashed lines us identify discontinuities.

as before, graphs and tables allow us to estimate at best.

when working with formulas, getting zero in the denominator indicates a point of discontinuity.

when working with piecewise-defined functions, check for discontinuities at the transition points where one piece ends and the next begins.

step-by-step explanation: