Question 1190273
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Use the compound interest formula
A = P*(1+r/n)^(n*t)
3000 = P*(1+0.07/12)^(12*5)
3000 = P*1.417625
P = 3000/(1.417625)
P = 2116.215501
P = 2116.22


Answer: <font color=red>$2116.22</font>
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