Ask Question
15 November, 01:36

Tuition of $2700 is due when the spring term begins, in 9 months. What amount should a student deposit today, at 11%, to have enough to pay tuition?

+4
Answers (1)
  1. 15 November, 02:01
    0
    T = 9 months = 9/12 year = 3/4 year

    r=11%

    A=2700=P (1+r*t/100) = P (1+11*3/4) = P (1+8.25)

    so, P = 2700/9.25 = 291.89 thats the answer
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Tuition of $2700 is due when the spring term begins, in 9 months. What amount should a student deposit today, at 11%, to have enough to pay ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers