allyrose242 allyrose242

16-12-2018
Mathematics

contestada

An account earns 1.5% interest compounded annually. The balance after 2 years is $8241.80. What is the principal?

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chloe8668 chloe8668

21-12-2018

8241.80=P(1+0.015)^2
I am not sure what did the problem mean by the principal but I guess It could be the valie invested initially
so,P=$8000

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