examples.
Ex. (3) The amount of a certain principal is 36655 in 3 years, compounded annually
at the rate of 10 p.c.p.a. Find the principal.
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Answer:
27539
Step-by-step explanation:
36655= P ( 1+ 10/100)^3
36655 = P (11/10)^3
36655 x 10 x 10 x 10 / 11 x 11 x 11 = P
p = 27539
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