Help pls- series and finance (1 Viewer)

[hs17]

Can someone pls do part a). I got a different answer to the textbook

 

[hs17]

Yes I do but I thought for part a, the final amount (A) is meant to be $54391.22 and not P...since we're trying to find P right??

 

[hs17]

^^

 

[5uckerberg]

Oh yes someone kinda explained a bit short so what really is happening is that according to the formula where P is the value before the investment, A being the initial value, r being the interest rate and n being the time intervals, Yeah from the question just plug the values in and you will receive a gift.

If something is depreciating then you start high and fall. But if you are doing superannuation or compound interest then one is supposed to note that