This question is literally making me punch holes in walls, etc. (1 Viewer)

[kietkiet]

Avril (This fucking slut I hate her.) is planning an overseas trip for 2 years and estimates that she will need $800 per month for expenses. How much should she deposit in her account paying 6.8% pa compounding monthly for her trip ?

What formula should I use ?

 

[kietkiet]

dw I figured it out.

Feels bad wasting an hour reading the question over and over again only to realise it requires an easy 1 step formula .....

..... I hate myself.

 

[Smile12345]

Avril (This fucking slut I hate her.) is planning an overseas trip for 2 years and estimates that she will need $800 per month for expenses. How much should she deposit in her account paying 6.8% pa compounding monthly for her trip ?

What formula should I use ?

Wouldn't it be the compound interest formula?

 

[Smile12345]

dw I figured it out.

Feels bad wasting an hour reading the question over and over again only to realise it requires an easy 1 step formula .....

..... I hate myself.

Awe, sorry I was just slightly too slow!

 

[kietkiet]

Awe, sorry I was just slightly too slow!

That's what I thought at first but then it turns out it was present annuities.

ffs. I hate word questions. I should have stuck with 2U T_T

 

[soloooooo]

Is the answer 16765 (ignoring the time cost of money and inflation)?

 

[rednellav]

Is the answer 16765 (ignoring the time cost of money and inflation)?

Yep.