find the sum which amounts to $ 40000 in 2 years at the rate of 7/2 compounded annually.
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Answer:
Step-by-step explanation:
A=$40000
R=7/2%
T=2YRS
A=P(1+R/100)^T
40000=P(1+7/200)^2
40000=P(200+7/200)^2
40000=P(207/200)^2
40000=P*207/200*207/200
P=40000*200*200/207*207
=$37340(APPROX)
MARK AS BRAINLEST!
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