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Mandarinka [93]
3 years ago
7

Trevor has an investment worth $6,774.50. He made his only deposit in it 22 years ago. Given that the investment yields 2.7% sim

ple interest annually, how big was the initial deposit?
a. $2,524.50
b. $4,024.03
c. $4,250.00
d. $11,404.88
Mathematics
2 answers:
igor_vitrenko [27]3 years ago
6 0

Answer:

First, converting R percent to r a decimal

  • r = R/100 = 2.7%/100 = 0.027 per year.

Solving our equation:

  • P = 6774.5 / ( 1 + (0.027 × 22)) = 4250
  • P = $4,250.00

  • The principal investment required to get a total amount, principal plus interest, of $6,774.50 from simple interest at a rate of 2.7% per year for 22 years is $4,250.00
  • I do exams and quizzes if your interested!

nignag [31]3 years ago
4 0

Answer:

Its C homies

Step-by-step explanation:

   

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