magroisaac62
Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Discover comprehensive solutions to your questions from a wide network of experts on our user-friendly platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

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

Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.