What are the values to choose from?
See picture for steps and answer
Answer:
$7,987.64
Step-by-step explanation:
We know,
A = Pe^(rt)
Here,
A = 11000
interest r = .08
Time t = 4
Now,
11000 = Pe^(.08 * 4)
Or, 11000 = Pe^.32
Or, 11000 / e^.32 = P
Or, 7987.6394 = P
Or, P= 7,987.64
Jerome will have to ask for $7,987.64 to his parents.
