Mathematics, 09.10.2019 03:00 alondra314
Suppose some municipal bonds pay 6.2% simple interest. how much should you invest in the bonds if you want them to be worth $5000 in 10 years?
Answers: 1
![\bf ~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\dotfill&5000\\ P=\textit{original amount deposited}\\ r=rate\to 6.2\%\to \frac{6.2}{100}\dotfill &0.062\\ t=years\dotfill &10 \end{cases} \\\\\\ 5000=P[1+(0.062)(10)]\implies 5000=P(1.62) \\\\\\ \cfrac{5000}{1.62}=P\implies 3086.42\approx P](/tpl/images/0302/3406/45b28.png)
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Suppose some municipal bonds pay 6.2% simple interest. how much should you invest in the bonds if yo...
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