document.write( "Question 1208633: Larger wants to take a trip in 8 years. She needs 2,400$. How much should she deposit into an account that pay 3.5% interest daily to meet her goal, round to nearest dollar
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Algebra.Com's Answer #847007 by ikleyn(52776) $\"\"$ $\"About$

You can put this solution on YOUR website!
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document.write( "Write an equation for the future value of the deposit X in 8 years, compounded daily\r\n" );
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document.write( "     = 2400\r\n" );
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document.write( "Find X\r\n" );
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document.write( "    X =  =  1814  dollars  (rounded).    ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "Solved.\r
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\n" ); document.write( "\n" ); document.write( "To see many other similar (and different) solved problems on compounded interest accounts, look into the lesson\r
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\n" ); document.write( "\n" ); document.write( "Learn the subject from there.\r
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\n" ); document.write( "\n" ); document.write( " A T T E N T I O N ( ! )\r
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\n" ); document.write( "\n" ); document.write( "Tutor @MathTherapy MISREAD the problem.\r
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\n" ); document.write( "\n" ); document.write( "In this problem, the account is NOT an annuity, so the solution by @MathTherapy is IRRELEVANT.\r
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\n" ); document.write( "\n" ); document.write( "From the text, it is clear that this account is one-time deposit, compounded daily.\r
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\n" ); document.write( "\n" ); document.write( "So, my solution is correct, while the @MathTherapy' solution is irrelevant.\r
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