Respuesta :
Answer:
The principle will be "40295.63". A further explanation is given below.
Step-by-step explanation:
The given values are:
Total amount,
A = 99,000
Rate of interest,
R = 3%
Time period,
T = 30 years
= 360 months
As we know,
⇒ [tex]A=P(1+\frac{{\frac{R}{12} }}{100} )^T[/tex]
On substituting the values, we get
⇒ [tex]99000=P(1+\frac{\frac{3}{12}}{100})^{360}[/tex]
⇒ [tex]99000=P(1+\frac{\frac{1}{4} }{100}) ^{360}[/tex]
⇒ [tex]P=\frac{99000}{(1.0025)^{360}}[/tex]
⇒ [tex]P=40295.63[/tex]
The required value of principal will be p = "40295.63".
Given,
Total amount of loan is = A = $99,000
Rate of interest = R = 3%
Time period =T = 30 years
Convert into months = 12×30
= 360 months
According to the question,
[tex]A = P ( 1+ \frac{\frac{R}{12} }{100} )^{360}[/tex]
Put the value of A = 99,000 , T = 360 , R= 3
[tex]99,000 = P [ 1+ \frac{\frac{3}{12} }{100} ]^{360} \\\\P = \frac{99,000}{(1.0025)^{360} }[/tex]
P = 40295.63
The required value of principal p = 40295.63 .
For more information about Compound interest click the link given below.
https://brainly.in/question/1128320
