Perry opened a savings account 8 years ago. The account earns 15% interest, compounded annually. If the current balance is 500.00, how much did he deposit initially?

Solución

Solución

Principal : 163.45

Pasos de solución

Translate the problem into an equation:

500 = P (1 + \frac{0.15}{1})^{1 \cdot 8}

Resolver para

P, 500 = P (1 + \frac{0.15}{1})^{1 \cdot 8} : P = 163.45

Principal : 163.45

Ejemplos populares

two numbers have a sum of 34 and a difference of 8 and write a pair of simultaneous 13 more than a number is 27 9000 dollars is placed in an account with an annual interest rate of 8%. How much will be in the account after 18 years, to the nearest cent?Find two consecutive whole numbers that sqrt(125) lies between. and Gina is 12 years old. She is twice as old as her sister Julia. How old is Julia?