You invest money at 6% interest compounded annually for 3 years. If the future value of your investment is $1800, how much money
did you invest? Show your work.
1 answer:
Answer:
Step-by-step explanation:
FV = P(1+r)^t
1800 = P(1+0.06)^3
1800 = P(1.06)^3
P = 1800/(1.06)^3 = $1511
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hope that helps
260 was its original prize.
