Question 609052
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Hi
3 years ago i invested some money at 10% interest, compounded yearly,now have $1000
In General {{{A = P(1+r/n)^nt}}}
A = Accumulated Amount = 1,000
P= principal = P
r= annual rate = .10
n= periods per year = 1
t= years = 3
{{{A/(1+r/n)^nt =P }}}
{{{1000/(1+.10)^3=P }}}= $751.31