SOLUTION: The formula A=P(1+r)^t can be used to relate the future value A of a deposit of P dollars in an account that earns an annual interest rate r (expressed as a decimal) after t years.
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-> SOLUTION: The formula A=P(1+r)^t can be used to relate the future value A of a deposit of P dollars in an account that earns an annual interest rate r (expressed as a decimal) after t years.
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Question 1069971: The formula A=P(1+r)^t can be used to relate the future value A of a deposit of P dollars in an account that earns an annual interest rate r (expressed as a decimal) after t years.
a) Solve the formula for P.
b) How much would you have to deposit today in order to have $5,000 in 5 years in a bank account that pays 4% annual interest?
c) Write the formula for P.
