byzurita09
byzurita09 byzurita09
  • 20-03-2017
  • Mathematics
contestada

Find the principal.
to get $800 after 3 1/2 years at 7% compounded monthly

Respuesta :

jdoe0001 jdoe0001
  • 20-03-2017
[tex]\bf \qquad \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \qquad \begin{cases} A=\textit{compounded amount}\to &800\\ P=\textit{original amount deposited}\\ r=rate\to 7\%\to \frac{7}{100}\to &0.07\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{monthly, meaning 12} \end{array}\to &12\\ t=years\to &3\frac{1}{2} \end{cases}[/tex]

solve for "P" to find the Principal
Answer Link

Otras preguntas

Although there are no glaciers in Florida , how have glaciers affected Florida?
which of the following statements about matter is true a.matter is anything that occupies space and possesses mass b.matter can be composed of single element
Most Midwestern cities were established near a. mountains. c. skyscrapers. b. water. d. manufacturing plants.
In what ways did the geography of Greece help shape Greek culture?
Find 15.75 divided by 0.25 using a giant one
People conquered by Cortes
Find the volume of a cylinder with a diameter of 10 inches and a height of 20 inches. Use 3.14 for π.
Which letter shows the route of Pedro Cabral? a. A b. B c. C
If Jason wants to build muscle mass in a healthy way, what kind of exercise should he include in his fitness program?
Which organ can be harmed if we eat too much fat?