SOLUTION: tuition of $1790 due in 8 months,what amount should be deposited today at 7.98% to have enough to pay total tuition

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Question 1033462: tuition of $1790 due in 8 months,what amount should be deposited today at 7.98% to have enough to pay total tuition
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let +x+ = amount deposited today
+x++%2B+%288%2F12%29%2A%28++.0798x+%29+=+1790+
+x%2A%28+1+%2B+%282%2F3%29%2A.0798+%29+=+1790+
+x%2A%28+1+%2B+.0532+%29+=+1790+
+x+=+1790+%2F+1.0532+
+x+=1699.58+
$1,699.58 should be deposited today