Question

Rita promises to give her 12–year–old daughter $12,000 when she turns 18. How much does she need to put in the bank now if the interest rate is 12 percent per year?

Answer 1

☆Hello friend☆

Nice practical question

S.I.= PR/100×T
A-P= PR/100× T
$12000-P= P×12/100×72
$12000-P= 864P/100
$12000×100/864=P+P
$1388.8 ×1/2= P
$694.4= P
$694.4=P

$hope \: it \: helps$
☺☺☺