magroisaac62
Answered

Discover the answers to your questions at Westonci.ca, where experts share their knowledge and insights with you. Join our platform to get reliable answers to your questions from a knowledgeable community of experts. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

Aaron deposits a certain sum of money at 1.25% and after 3 years he gets £375 interest. find the sum deposited​

Sagot :

fichoh

Answer:

$361.45

Step-by-step explanation:

Given that:

Interest rate (r) = 1.25% = 0.0125

Final amount (A) = 375

time (t) = 3 years

Using the relation :

A = p(1 + rt)

P = principal, initial amount deposited

375 = p(1 + 0.0125(3))

375 = p(1 + 0.0375)

375 = p(1.0375)

375 = 1.0375p

375 / 1.0375 = p

361.44578

Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.