Question

How to solve this problem? (the answer is 908.52). i want to know the step by step on how to solve the equation given. if it helps, i am a grade 10 student.

Answer 1

Given the formula:

$P=1000(1.0325)^{-3}$

So, the value of P = $908.51

To find the answer, we will use the calculator

note: the value:

$(1.0325)^{-3}=\frac{1}{1.0325^3}$

The given formula can be written as:

$P=\frac{1000}{1.0325^3}=\frac{1000}{1.0325\times1.0325\times1.0325}=908.51$