SOLUTION: find the principle when : final amount =4500 at 20 %per annum in 5 years

SOLUTION: find the principle when : final amount =4500 at 20 %per annum in 5 years

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Question 575636: find the principle when :
final amount =4500 at 20 %per annum in 5 years
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
find the principle when :
final amount =4500 at 20 %per annum in 5 years
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A(t) = P(1+rt)
4500 = P(1+0.2*5)
4500 = P(1+1)
P = 4500/2
Priciple = $2250
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Cheers,
Stan H.
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