By paying $50 cash up front and the balance at $35 a
1 answer:
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Answer:
Principle should be $2,667
Step-by-step explanation:
We need $3000 for a vacation to Europe in 3 years.
Using amount formula,
Where, P is principle (P=?)
A is amount (A=3000)
r is rate of interest (r=0.04)
t is time (t=3)
Substitute the values into formula and solve for P
Hence, Principle should be $2,667