SOLUTION: Debbie plans on investing enough money so that she will have $2000 at the end of two years. How much money will she have to invest now if her money will grow according to the follo

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Question 60111This question is from textbook Elementry and Intermediate Algebra
: Debbie plans on investing enough money so that she will have $2000 at the end of two 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? This question is from textbook Elementry and Intermediate Algebra

Answer by tutorcecilia(2152) About Me  (Show Source):
You can put this solution on YOUR website!
2000 = P (1.025)^4 [Solve for P]
2000/ (1.025)^4=P
$1811.90=P