SOLUTION: Debbie plans on investing enough money so that she will have $2000 at the end of four years. How much money will she have to invest now if her money will grow according to the fol
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Question 251547: Debbie plans on investing enough money so that she will have $2000 at the end of four years. How much money will she have to invest now if her money will grow according to the following formula: 2000 = P (1.025)4?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
There is no way that that formula is correct!
Who set up that formula? Bernie Madoff?
$487.81 will not grow to $2000 in 4 years
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