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The formula A=P(1 + r) can be used to relate the future value A of a deposit of P dollarsin an account that earns an annual interest rate r (expressed as a decimal) after t years.a. Solve the formula for P.b. How much would you have to deposit today in order to have $6000 in 5 years in abank account that pays 5% annual interest?

Respuesta :

Given:

There are given that the formula of A.

[tex]A=P(1+rt)[/tex]

Explanation:

According to the question:

(a). We need to solve for P.

So,

From the formula:

[tex]\begin{gathered} A=P(1+r) \\ P=\frac{A}{1+r} \end{gathered}[/tex]

Therefore, the value of P is shown below:

[tex]P=\frac{A}{1+r}[/tex]

Now,

(b).

Put 6000 for A,

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