yurichard114 yurichard114
  • 23-07-2021
  • Mathematics
contestada

Find the principal amount invested if there is $9300 in the account after 5 years and earned 4% simple interest per year.

Respuesta :

MommaBear2012 MommaBear2012
  • 23-07-2021

Answer:

11314.87379 (This is still rounded).

Step-by-step explanation:

Year 1:

9300*4%=372. 9300+372=9672.

Year 2:

9672*4%=386.88. 386.88=10058.88.

Year 3:

10058.88*4%=402.3552. 402.3552+10058.88=10461.2352.

Year 4:

10461.2352*4%=418.449408. 418.449408+10461.2352=10879.68461

Year 5:

10879.68461*4%=435.1873843. 435.1873843+10879.68461=11314.87379.

Answer Link

Otras preguntas

(64/9)^(-2/3) Simplify the expression
What were the origins of Islam and what are its main beliefs ..
Express 0.59 as a fraction....
john and mary went to the mall. Is that a sentence or a fragment?
What were the origins of Islam and what are its main beliefs ..
Express 0.59 as a fraction....
Explain why summer in the Northern Hemisphere is cooler than summer in the Southern Hemisphere.
Express 0.59 as a fraction....
john and mary went to the mall. Is that a sentence or a fragment?
What were the origins of Islam and what are its main beliefs ..