SOLUTION: Jen needs to raise PHP 80,000 in 15 months. What amount should she be able to set aside now and invest in a fund earning 2% per month in order for her to reach her target amount?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Jen needs to raise PHP 80,000 in 15 months. What amount should she be able to set aside now and invest in a fund earning 2% per month in order for her to reach her target amount?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1126260: Jen needs to raise PHP 80,000 in 15 months. What amount should she be able to set aside now and invest in a fund earning 2% per month in order for her to reach her target amount?
Answer by Alex.33(110) About Me  (Show Source):
You can put this solution on YOUR website!
m%2A%28%281%2B0.02%29%5E15%29=80000
m=59441.178,approximately.
And I think it's done. Hope this helps!