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3 years ago

Compound interest question :

1 answer:

8 0

The formula is
A=p (1+r)^t
A future value 8000
P present value?
R interest rate 0.05
T time 3years
Solve the formula for p
P=A÷(1+r)^t
P=8,000÷(1+0.05)^(3)
P=6,910.70

Hope it helps!

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