Try that same problem if the account was instead earning 24% interest, as some credit cards charge. I want a million dollars in 40 years, how much must I invest at that interest rate today?

step-by-step explanation:

47

step-by-step explanation:

step by step solution :

step   1   :

1.1     4 = 22

(4)3 = (22)3 = 26

equation at the end of step   1   :

  ((23) • 26)2

step   2   :

equation at the end of step   2   :

  (23 • 26)2

step   3   :

final result :

  218

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