Question 870552
Principal P =	x												
Amount=	1100												
years=n	8												
compounded	12	times a year											
Rate =	12.00			=(0.12/12)=0.010									
Amount =	P*((n+r)/n)^n												
													
1100	=	x	*(	1	+	r/n	)^	n					
													
													
1100	=	P	(	1	+	0.010			)	^	12	*	8
													
1100	=	P(	1.01000	)^	96								
													
1100	/(	1.010	)^	96	=	P							
													
P=	$423.20