If i have $500 in my account after 4 years inventing at 2.5% per year, how much money did I start with?

A.) Write an equation showing your work.

B.) How much money was started with.

Question

27 March, 20:58

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Answers (1)

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Amelia Yu · Answer 1

The equation is

P=A: (1+r) ^t

P present value?

A future value 500

R interest rate 0.025

T time 4years

P=500: (1+0.025) ^ (4) = 452.98

If i have $500 in my account after 4 years inventing at 2.5% per year, how much money did I start with?A.) Write an equation showing your work.B.) How much money was started with.