find the sum which when invested at 8% per annum for 3 years becomes 70304 when the interest is compounded annually
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3
i think 8740 see........
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70304=p[1+r/100]^3
70304=p[1+2/25]^3
70304=p[27/25]^3
70304×25/27×25/27×25/27=p
70304×15625/19683=p
p=55809
70304=p[1+2/25]^3
70304=p[27/25]^3
70304×25/27×25/27×25/27=p
70304×15625/19683=p
p=55809
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