You need to have $20,000 for a down payment on a house 6 in years. If you can earn an annual interest rate of 4.2 percent, how much will you have to deposit today?

you have to deposit $15625 today

Step-by-step explanation:

Assuming the interest is compounded annually. We would apply the formula for determining compound interest which is expressed as

A = P(1+r/n)^nt

Where

A = total amount in the account at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount deposited

From the information given,

A = $20000

r = 4.2% = 4.2/100 = 0.042

n = 1 because it was compounded once in a year.

t = 6 years

Therefore,.

20000 = P(1 + 0.042/1)^1 × 6

20000 = P(1.042)^6

20000 = 1.28P

P = 20000/1.28

P = $15625

step-by-step explanation:

3024 rhe base is what up in worry about

the multiples of 15 are 15, 30,45, 60, 75, 90, 105, 120, 135, 150, 165, 180, 195,   210, 225, 240, 255, 270, 285, 300, 315, 330, 345, 360, 375,   390, 405, 420, 435, 450, 465, 480, 495, 510, 525, 540, 555, 570, 585, 600, 615, 630, 645, 660, 675, 690, 705, 720, and 735.

the factors of 15 are 1, 3, 5, and 15.

hope that , fam!

-une, your fren : )