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Olegator [25]
3 years ago
8

Jeff invests an amount at 4% interest compounded annually. After 3 year he has 1687.30, What was the original amount jeff invest

ed?
Mathematics
1 answer:
Firlakuza [10]3 years ago
7 0
A = P(1+r/n)^<span>(nt)
1,687.30 = P (1+ 0.04/1)^3
1,687.30 = P (1.124864)
P = 1687.30 / </span>1.124864
P = 1500
answer: $1500 <span>was the original amount jeff invested</span>
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x

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4

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∞

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−

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3

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1

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2

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