Question 1126202
{{{ I = P*r*t }}}
{{{ r = .027 }}}
{{{ t = 3 }}}
After 3 yrs you want:
{{{ I + P = 1400 }}}
{{{ I = 1400 - P }}}
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{{{ 1400 - P = P*.027*3 }}}
{{{ 1400 - P = .081P }}}
{{{ 1.081P = 1400 }}}
{{{ P = 1295.1 }}}
you need to put $1,295.10 in CD
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check:
{{{ I = 1295.1*.027*3 }}}
{{{ I = 104.90 }}}
and
{{{ I + P = 104.9 + 1295.1 }}}
{{{ I + P = 1400 }}}
OK