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Igoryamba
3 years ago
13

Samuel is going to invest in an account paying an interest rate of 5% compounded

Mathematics
2 answers:
wariber [46]3 years ago
5 0

Answer:

49097

Step-by-step explanation:

Well the answer was in delta math what can I say

mart [117]3 years ago
4 0

Answer:

$49677.4

Step-by-step explanation:

Given data

Interest rate r= 5%

Final amount A = $77,000

time t= 9 years

let us apply the compound interest formula

A=P(1+r)^t

Substitute

77000=P(1+0.05)^9\\\\77000=P(1.05)^9\\\\77000=P*1.55

Divide both sides by 1.55

P=77000/1.55

P=$49677.4

Hence the principal amount should be $49677.4

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