SOLUTION: 3 years ago i invested some money at 10% interest, I now have $1000 in the account. If the interest is compounded yearly, how much did i deposit 3 years ago?
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Question 609052: 3 years ago i invested some money at 10% interest, I now have $1000 in the account. If the interest is compounded yearly, how much did i deposit 3 years ago? Answer by ewatrrr(24785) (Show Source):
Hi
3 years ago i invested some money at 10% interest, compounded yearly,now have $1000
In General
A = Accumulated Amount = 1,000
P= principal = P
r= annual rate = .10
n= periods per year = 1
t= years = 3 = $751.31
