The answer to this question is 70
The stack on the left is made up of 15 pennies, and the stack on the right is also made up of 15 pennies. If the volume of the s
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Answer:
The amount of $1000 principal is needed to have $3000 after 5 years.
Step-by-step explanation:
As the interest formula is
Where
- P is the principle
- r is the rate in decimal
- t is the time in years
Substituting the following values in the interest formula and solve for P
I=$3000
r = 6% = 6/100 =
t = 5
so the equation becomes
switch both sides
$
Therefore, the amount of $1000 principal is needed to have $3000 after 5 years.