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Nimfa-mama [501]

2 years ago

13

Aileen deposited money into an account in which interest is compounded semiannually at a rate of 2.1%. How much did she deposit

if the total amount in her account after 3 years was $3952.08, and she made no other deposits or withdrawals?
a) $3489
b) $3562
c) $3712
d) $3751

1 answer:

sattari [20]2 years ago

3 0

3952.08=p(1+0.021/2)^6
Solve for p
P=3712

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