Question

The interest received for the second year on a certain sum of money exceeds the interest received in
the first year by $500. If the amount was invested at 10% compound interest per annum, what was the
sum invested in the beginning?​

Answer 1

Answer:

The interest received for the second year on a certain sum of money exceeds the interest received in

the first year by $500. If the amount was invested at 10% compound interest per annum, what was the

sum invested in the beginning?