Question

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10) Find the principal that will amount to t3,752 in 3 years at 2 %?
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Answer 1

Answer:

P = $3,539.62

Step-by-step explanation:

Equation:

P = A / (1 + rt)

Calculation:

First, converting R percent to r a decimal

r = R/100 = 2%/100 = 0.02 per year.

Solving our equation:

P = 3752 / ( 1 + (0.02 × 3)) = 3539.6226415094

P = $3,539.62

The principal investment required to get a total amount, principal plus interest, of $3,752.00 from simple interest at a rate of 2% per year for 3 years is $3,539.62.

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