Jada deposited an amount of money in a bank 3 years ago. if the bank had been paying interest at the rate of 6%/year compounded daily (assume a 365-day year) and she has $18,000 on deposit today, what was her initial deposit? (round your answer to the nearest cent.)

$15,035.086

Explanation:

Data provided in the question:

Duration of the deposit = 3 years

Interest rate paid = 6% per year

Daily interest rate =

Future value of the Amount Deposited = $18,000

now,

Present value i.e the value 3 years ago =  

here,

n is duration in days i.e 3 × 365 = 1095 days

Thus,

=

or

= $15,035.086

x=3

step-by-step explanation:

this is really simple i saw that there was only one term (5x) and thought if that was 15 what would i have to multiply everything else to get it there? well if 5x became 15 then x would have to be 3 so plug the 3 in the x for the other equations and you get 15 for the other ones. so there you go. : )

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi