The population of Small town in the year 1890 was 6,250. Since then, it has increased
1 answer:
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Answer:
$70,201.38
Step-by-step explanation:
To determine the principal amount, we can use the formula:
A = $200,000
r = 7% or 0.07
t = 15 years
n = 12
Now let's substitute our values.
So the principal needed to get 200,000 in 15 years is $70,201.38.