Question

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

Answer 1

Answer:

49097

Step-by-step explanation:

Well the answer was in delta math what can I say

Answer 2

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