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Populaire Word Problems >

An amount is invested for 5 years at 16% p.a. compounding quarterly. If the value of the investment after 5years is 80,600, what was the principal?

Solution

A n am o u n t i s in v es t e d f or 5 ye a rs a t 16% p . a . co m p o u n d in g q u a r t er l y . I f t h e v a l u e o f t h e in v es t m e n t a f t er 5 ye a rs i s 80, 600, w ha t w a s t h e p r in c i p a l ?

Solution

Principal : 36784.79

étapes des solutions

Translate the problem into an equation:

80600 = P (1 + \frac{0.16}{4})^{4 \cdot 5}

Solutionner pour

P, 80600 = P (1 + \frac{0.16}{4})^{4 \cdot 5} : P = 36784.79

Principal : 36784.79

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