HELP ASAP!!! Can Someone HELP ME WITH THIS? WILL GIVE BRAINLIEST AND 12 POINTS!
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Actually Welcome to the Concept of the Compound Interest.
Since we know that formula for the Compound interest is :-
A= P(1+r/n) ^nt
here, A = total amount received at end, P= initial amount invested, r= rate of interest in decimal, t= time of years and n= frequency per year, so we get as,
=>10110.28 = P(1+0.035/2)^2*5
=>10110.28 = P (1+0.0175)^10
=>10110.28= P(1.0175)^10
=>so finally we get as
=>P= 1011.28/1.1894
=> P= 8500