Raymond earned some money doing odd jobs last summer and put it in a savings account that earns 13% interest compounded annually. After 7 years, there is 400.00 in the account. How much did Raymond earn doing odd jobs?

Решение

Решение

Principal : 170.02

Шаги решения

Translate the problem into an equation:

400 = P (1 + \frac{0.13}{1})^{1 \cdot 7}

Решите для

P, 400 = P (1 + \frac{0.13}{1})^{1 \cdot 7} : P = 170.02

Principal : 170.02

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