Please help me solve the problem
1 answer:
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Answer:
The principal must be = $8991.88
Step-by-step explanation:
Formula for compound interest is:
Where A is the amount after 't' years.
P is the principal amount
n is the number of times interest is compounded each year.
r is the rate of interest.
Here, we are given that:
Amount, A = $15000
Rate of interest = 13 % compounded quarterly i.e. 4 times every year
Number of times, interest is compounded each year, n = 4
Time, t = 4 years.
To find, Principal P = ?
Putting all the given values in the formula to find P.
So, <em>the principal must be = $8991.88</em>
Pythagorean Theorem: a^2+b^2=c^2
(9)^2 + b^2 = (23)^2
81 + b^2 = 529
b^2 = 529 - 81
b^2 = 448
b^2 =
b = 21.2
(9)^2 + b^2 = (23)^2
81 + b^2 = 529
b^2 = 529 - 81
b^2 = 448
b^2 =
b = 21.2