00:01
Okay, in 12a, i want to find the final amount if 1 ,500 is invested, so that is my principal, at an interest rate of 7%, so that's 0 .07 as a decimal, and my time is 12 years.
00:21
So substitute those values, 1500e to the 0 .07 times 12 power.
00:33
That's going to give you 1 ,500 times e to the 0 .84 power, raise e to the 0 .84 power, then multiply that by 1 ,500.
00:48
You are going to have $3 ,4 .75 in that account.
01:05
In problem b, we want to find the final amendment.
01:11
Amount if 19 ,000 is invested, so our principal is 19 ,000, our interest rate is 2 .5%.
01:21
So that's 0 .025, but our time now is 60 years.
01:30
So again, let's substitute 025 times 60 is going to give you 1 .5 raise e to the 1 .5 power and then multiply that.
01:51
That by 19 ,000.
01:56
That is going to give you $85 ,152 .9.
02:08
Now in c, i want to find the amount needed now...