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vagabundo [1.1K]
3 years ago
10

Skylar is going to invest in an account paying an interest rate of 3.5% compounded daily. How much would Skylar need to invest,

to the nearest hundred dollars, for the value of the account to reach $670 in 10 years?
Mathematics
2 answers:
damaskus [11]3 years ago
8 0

Answer:

$475.17

Step-by-step explanation:

Step one:

given data

rate= 3.5% = 0.035

final amount A= $670

time= 10 years

Required

The principal invest P

Step two:

A= P(1+r)^t

substitute

670=P(1+0.035)^1^0\\\\670=P(1.035)^1^0\\\\670=P*1.41

divide by 1.41

P= 670/1.41\\\\P=475.17

The invested principal is $475.17

Ierofanga [76]3 years ago
7 0

Answer:

500

Step-by-step explanation:

its on delta math

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