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The attached picture above have the process of answering the question.
Answer:
The principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
Step-by-step explanation:
Given
- Accrued Amount A = $1000000
- Interest rate r = 6% = 0.06
- Time period t = 45 years
- Compounded monthly n = 12
To determine:
- Principle amount P = ?
Using the formula
substituting A = 1000000, r = 0.06, t = 45, and n = 12
$
Therefore, the principal investment required to get a total amount of $ 1,000,000.00 from compound interest at a rate of 6% per year compounded 12 times per year over 45 years is $ 67,659.17.
The congruence theorem that can be used is: B. ASA
<h3>What is the ASA Congruence Theorem?</h3>If we have two triangles that have two pairs of corresponding congruent angles (e.g. ∠LGH ≅ ∠HKJ and ∠LHG ≅ ∠KHJ), and a pair of corresponding congruent sides (e.g. GH ≅ HK), the triangles are said to be congruent triangles by the ASA congruence theorem.
Therefore, triangles GHL and KHL in the image given are congruent triangles by the ASA congruence theorem.
Learn more about the ASA congruence theorem on:
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