Uta invests an amount into a compound interest investment account that pays 6% a year. After six years, she withdraws her total balance of $500. Using the formula A = P (1 + r) Superscript t, how much money did Uta initially invest?
$180.00
$320.00
$352.48
$471.70

Question

Today at 8:53 AM
Mathematics

Answered

Uta invests an amount into a compound interest investment account that pays 6% a year. After six years, she withdraws her total balance of $500. Using the formula A = P (1 + r) Superscript t, how much money did Uta initially invest?
$180.00
$320.00
$352.48
$471.70

Answer :

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gomezgerman032 gomezgerman032 · Answer 1 · 2025-03-29T08:59:16-04:00

Answer: $352.48

Step-by-step explanation:

Hi, to answer this question we have to apply the formula:

A = P (1 + r)^t

Where

A: total balance after invest

P: principal amount invested

r = interest rate (in decimal form)

t = time (years)

Replacing with the values given:

500= P (1+0.06)^6

Solving for P:

500 = P (1.06)^6

500 / ( (1.06)^6)=P

500 / 1.4185 =P

$352.48= P

bianca32895 bianca32895 · Answer 2 · 2025-03-29T08:58:23-04:00

bianca32895 bianca32895

Today at 8:58 AM

Answer:

352.48

Step-by-step explanation:

Answer Link

Uta invests an amount into a compound interest investment account that pays 6% a year. After six years, she withdraws her total balance of $500. Using the formula A = P (1 + r) Superscript t, how much money did Uta initially invest? $180.00 $320.00 $352.48 $471.70

Answer :

Other Questions

Uta invests an amount into a compound interest investment account that pays 6% a year. After six years, she withdraws her total balance of $500. Using the formula A = P (1 + r) Superscript t, how much money did Uta initially invest?
$180.00
$320.00
$352.48
$471.70