I have not come across a situation that I can use for this assignment from anything I have purchased but I am planning my sons 5th birthday party. I have estimated that I will need about $3000 dollars to get everything needed to get this done so is I use the R*t=72 formula, I can come up with close to this amount before the time of his birthday. I have 6 months to come up witht he money and after using this calculation I have figured out that I need to put $360 a month into his party money with the money that I have alread put aside. So this is how I got the $360.
Rate*6months=72
R=72/6 or 12%
$3000*12%=$360
So for 6 months the total that I will have put aside will come up to $2160 plus the $1000 that I have already put aside, I will have enough to do everything I will need to have a successful birthday party for my son and everyone that will be there.