Weegy: Here, A = $400,000; P = unknown; r = 6% = 0.06; n = 1 (annual compounding means one compounding period per year); t = 25 (number of years between Burton's age and 80).
So, we can write
$400,000 = P(1 + 0.06/1)^(1·25), [ or $400,000 = P(1.06)^25 = 4.29187·P.
Divide both sides by 4.29187 to get P:
P = $400,000/4.29187 = $93,199, which rounds up to $93,200 ] (More)

Weegy: Here, A = $400,000; P = unknown; r = 6% = 0.06; n = 1 (annual compounding means one compounding period per year); t = 25 (number of years between Burton's age and 80).
So, we can write
$400,000 = P(1 + 0.06/1)^(1·25), [ or $400,000 = P(1.06)^25 = 4.29187·P.
Divide both sides by 4.29187 to get P:
P = $400,000/4.29187 = $93,199, which rounds up to $93,200 ] (More)

There are no comments.