Question 414304
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Hi
Earning $3,000 over 10 years on an investment that pays 5% compounded 'annually'
Note: A= P(1+r/n) ^nt  OR in this case: P + I = P(1+r) ^t and I = P[(1+r)^t - 1]
 $3000 = P[(1.05)^10 - 1] 
 $3000/.6289 = P
   $4770.23 = p

CHECKING our Answer***
  $7770.23 = $4770.23(1.05)^10