Reagan opened a savings account 5 years ago. The account earns 1% interest, compounded annually. If the current balance is 200.00, how much did she deposit initially?

Lösung

Lösung

Principal : 190.29

Schritte zur Lösung

Translate the problem into an equation:

200 = P (1 + \frac{0.01}{1})^{1 \cdot 5}

Löse nach

P, 200 = P (1 + \frac{0.01}{1})^{1 \cdot 5} : P = 190.29

Principal : 190.29

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