Question 1206375
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A bank offers a CD that pays a simple interest rate of 7.5​%. How much must you put 
in this CD now in order to have ​$4 comma 000 for a​ home-entertainment center in 3 years.
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<pre>
The formula for the future value of a simple interest deposit is

    FV = {{{X*(1 + rt)}}}.


Here FV = $4000 (given);  X is the unknown value of the one-time amount deposited today;
r is the annual rate (0.075, given);  t is the time in years (3 years, given).


From this formula,  X = {{{(FV)/(1+0.075*3)}}} = {{{4000/(1 + 0.075*3)}}} = 3265.31  (rounded).


<U>ANSWER</U>.  $3265.31 should be deposited today.
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Solved.