How much money would you have to invest to make $300 within 2 years if the interest rate was 4.5%?

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get our expert's

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this and thousands of other questions.

A community for students.

How much money would you have to invest to make $300 within 2 years if the interest rate was 4.5%?

Mathematics
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this and thousands of other questions

\[x \times 1.045^2 \geq 300 \implies x \geq \frac{300}{1.045^2}\]
umm so whats the answer??
Umm, umm, umm... the answer is do your own homework, kiddo.

Not the answer you are looking for?

Search for more explanations.

Ask your own question

Other answers:

Or read what I posted and work out the answer for yourself.
Interest rate of 4.5% => value goes up by a factor of 1.045 each year.
but that is confusing, thats not what it shows me to do on my practice stuff
my practice stuff is like P = r x t stuff ... what you posted looks nothing like what im supposed to do, thats why i dont understand what u wrote
If m money is invested, you have 1.045m after one year, and 1.045^2 m money after two years. if this equals 300, you have m = 300/1.045^2 = 287.08 to 2 decimal places. So if you want over 300, the mimnimum amount (to the nearest $) is 288. There.
Where 1.045^2 = 1.045 x 1.045
isnt it supposed to look something like ... 300 x .045 x 2 = ??
Oh, you want 300 extra, not 300 in total? My mistake, sorry. It would be m * 0.045 * 0.045 = 300 m=300/0.045^2 = 300/(0.045 * 0.45)
300/0.045 x 2 = ?? is that wat its supposed to be like
The last one was a typo, sorry again. They're both 0.045. But it's 0.045 TIMES ITSELF. Not x 2. Sorry, so many silly mistakes by me, I was a little too mean earlier.
300/(0.045 x 0.045)
are you sure lol
I study Mathematics at the best University in the world. I am sure.
and what university is that mr.newton
Cambridge, England.
ohhh ic. My dads home england. So about that equation ... why did u do 0.045 twice??? im pretty sure i have to show the 2 in my equation
In the first year, it goes up by 4.5% , so you have 0.045 more. The second year, it goes up by it again, so you have ((1.045) x starting money) x 1.045) = starting money x 1.045 x 1.045 or 1.045^2. The extra money is 0.045 x 0.045 x starting money, and this is equal to 300.
Wait, one second. Sorry, it's about 4am here. You have 1.045 * 1.045 the starting money. If you want 300 extra, then 1.045^2 x starting money = starting money +300 So 300 = (1.045^2-1)m so m = 300/(1.045^2-1) = 300/((2.045)(0.045)). Wow, I am so sorry. What is wrong with me today. The answer is $3259.98 = $3260 3260 * 1.045 * 1.045 = 3560 = 3260 + 300. WOW, sorry, I have never looked at it for the profit not total, so made a silly mistake. Goodnight, And sorry again. fluttering hell, what's wrong with me today.
That is possibly the most embarrassingly bad maths I have done in my entire life.
wat is * ?
Just another symbol for times, x, I use them interchangeably :(
so he must invest 3259.98 to make $300 within 2 years if the interest rate was 4.5% ???
Yes, yes - 300/(1.045 x 1.045 - 1) = 300/(2.045 x 0.45) = 3259.98 3259.9837, to be exact, but $3260 is probably what you want. I am going, sorry for wasting your time (and mine, I am going to have about 3 hours sleep now :/) Have a nice life.
ok thank you...

Not the answer you are looking for?

Search for more explanations.

Ask your own question