SOLUTION: Cjane needs to raise P800,000 in 18 months. What amount should she be able to set aside now and invest in a fund earning 2% per month in order for him to reach his target amount?

Question 1188396: Cjane needs to raise P800,000 in 18 months. What amount should she be able to set aside now and invest in a fund earning 2% per month in order for him to reach his target amount?

Found 2 solutions by ikleyn, MathTherapy:
Answer by ikleyn(52799) (Show Source): You can put this solution on YOUR website!
.
Cjane needs to raise P800,000 in 18 months. What amount should she be able to set aside now
and invest in a fund earning 2% per month in order for him to reach his target amount?
~~~~~~~~~~~~~~~

Write equation as you read the problem 800000 = . Simplify and find X 800000 = X = = 560127.50. ANSWER

Solved.

Answer by MathTherapy(10552) (Show Source): You can put this solution on YOUR website!
Cjane needs to raise P800,000 in 18 months. What amount should she be able to set aside now and invest in a fund earning 2% per month in order for him to reach his target amount?

With A being the present value or amount to invest NOW, we get:
My bad!! It's 2% per MONTH, but I calculated 2% per year. Tutor @IKLEYN is correct!
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