To help with his retirement savings, Hans has decided to invest. Assuming an interest rate of 3.48% compounded annually, how much would he have to invest to have 148,700 after 16 years?

解答

To help with his retirement savings, Hans has decided to invest. Assuming an interest rate of 3.48% compounded annually, how much would he have to invest to have 148, 700 after 16 years?

解答

Principal : 86021.74

求解步骤

Translate the problem into an equation:

148700 = P (1 + \frac{0.0348}{1})^{1 \cdot 16}

求解

P, 148700 = P (1 + \frac{0.0348}{1})^{1 \cdot 16} : P = 86021.74

Principal : 86021.74

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