Provide an explanation of how his/her life will change economically, socially, and politically in a centrally planned economy.
1 answer:
You might be interested in
Answer:
money deposited after end of 3rd year is $4877.75
Explanation:
given data
initial amount = $10000
rate = 5%
time = 3 year
after 7 year account balance = $20000
solution
we consider here money deposited after end of 3rd year is = x
first we get here compounded amount after 3 years as
compounded amount = initial amount × ................1
compounded amount = 10000 ×
compounded amount = $11576.25
so at 7 year account balance is
account balance = ( compounded amount + x ) × ....................2
$20000 = ( $11576.25 + x ) ×
solve it we get
x = $4877.75
so money deposited after end of 3rd year is $4877.75