SOLUTION: One and a half years ago Julie received some money for her birthday and she immediately deposited it into an account earning 0.75% per month. Today the value of that deposit has re
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Question 1109006: One and a half years ago Julie received some money for her birthday and she immediately deposited it into an account earning 0.75% per month. Today the value of that deposit has reached $5,902. How much did she deposit 1.5 years ago?
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
One and a half years ago Julie received some money for her birthday and she immediately deposited it into an account earning 0.75% per month.
Today the value of that deposit has reached $5,902.
How much did she deposit 1.5 years ago?
A*1.0075^18 = 5902
using your calc
A * 1.14396 = 5902
A = $5159.27
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