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Natali5045456 [20]

3 years ago

11

Ryan invests a sum of money in a savings account with a fixed annual interest rate of 4.31% compounded 12 times per year. After

10 years, the balance reaches $12,855.94. What was the amount of the initial investment?

1 answer:

Lady_Fox [76]3 years ago

6 0

12855.94 = (1 + .0431/12) 12(10)
8361 = P Hope this helps!

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