Rose opened a savings account 4 years ago. The account earns 12% interest, compounded annually. If the current balance is 800.00, how much did she deposit initially?

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Solución

Solución

Principal : 508.41

Pasos de solución

Translate the problem into an equation:

800 = P (1 + \frac{0.12}{1})^{1 \cdot 4}

Resolver para

P, 800 = P (1 + \frac{0.12}{1})^{1 \cdot 4} : P = 508.41

Principal : 508.41

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